Kentucky Trust Co Acquires Shares of 23,344 Fifth Third Bancorp (NASDAQ:FITB)

Kentucky Trust Co acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 23,344 shares of the financial services provider's stock, valued at approximately $987,000.

A number of other hedge funds also recently bought and sold shares of the company. Boston Common Asset Management LLC lifted its position in shares of Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock worth $13,079,000 after purchasing an additional 34,203 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock worth $3,078,000 after purchasing an additional 9,444 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth approximately $9,878,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Fifth Third Bancorp by 13.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider's stock worth $19,776,000 after purchasing an additional 55,081 shares in the last quarter. Finally, Smith Group Asset Management LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth approximately $423,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FITB has been the subject of a number of research analyst reports. StockNews.com lowered shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Hold" and an average target price of $46.75.

Fifth Third Bancorp Stock Performance

FITB stock traded up $0.48 during midday trading on Friday, hitting $44.06. The stock had a trading volume of 4,676,808 shares, compared to its average volume of 4,714,024. The firm has a market capitalization of $29.54 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a 52 week low of $33.03 and a 52 week high of $49.07. The stock has a 50-day simple moving average of $43.70 and a 200 day simple moving average of $43.50. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.36%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 47.13%.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.