Pacer Advisors Inc. Raises Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Pacer Advisors Inc. increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 43.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,835 shares of the financial services provider's stock after purchasing an additional 21,895 shares during the period. Pacer Advisors Inc.'s holdings in Fifth Third Bancorp were worth $3,079,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC increased its holdings in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock valued at $29,000 after buying an additional 316 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at approximately $36,000. Hexagon Capital Partners LLC boosted its stake in shares of Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock worth $37,000 after acquiring an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FITB. Baird R W downgraded Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. DA Davidson increased their price objective 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. Truist Financial raised their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Piper Sandler reiterated an "overweight" rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Barclays lifted their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. One equities 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 MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $46.75.

Fifth Third Bancorp Trading Up 0.7 %

Shares of FITB stock traded up $0.30 during trading hours on Tuesday, hitting $43.87. 2,818,471 shares of the company were exchanged, compared to its average volume of 4,983,040. The firm has a fifty day moving average of $44.39 and a 200 day moving average of $43.38. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The firm has a market cap of $29.42 billion, a PE ratio of 13.97, a PEG ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio 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.