Lockheed Martin Investment Management Co. bought a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 233,640 shares of the financial services provider's stock, valued at approximately $9,878,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its holdings in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after acquiring an additional 316 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at $36,000. Y.D. More Investments Ltd boosted its position in shares of Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock worth $35,000 after purchasing an additional 449 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 312 shares during the period. Hedge funds and other institutional investors own 83.79% of the company's stock.
Fifth Third Bancorp Stock Performance
Shares of FITB opened at $43.87 on Wednesday. The business's fifty day moving average price is $44.39 and its 200 day moving average price is $43.38. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. The stock has a market capitalization of $29.42 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.
Fifth Third Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 47.13%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on FITB shares. Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Barclays increased their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. DA Davidson raised their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $46.75.
Check Out Our Latest Analysis on Fifth Third Bancorp
About Fifth Third Bancorp
(
Free Report)
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.
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