Perigon Wealth Management LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,448 shares of the financial services provider's stock, valued at approximately $2,269,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Fifth Third Bancorp by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider's stock valued at $889,978,000 after buying an additional 732,651 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Fifth Third Bancorp by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider's stock valued at $371,837,000 after acquiring an additional 399,827 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock valued at $242,713,000 after purchasing an additional 409,292 shares during the period. Smead Capital Management Inc. grew its position in Fifth Third Bancorp by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider's stock valued at $95,278,000 after purchasing an additional 75,024 shares in the last quarter. Finally, Zacks Investment Management increased its stake in Fifth Third Bancorp by 10.0% in the 3rd quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider's stock valued at $74,450,000 after buying an additional 158,067 shares during the period. 83.79% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. Baird R W downgraded shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. DA Davidson raised 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 report on Thursday, January 23rd. Wells Fargo & Company lifted 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 note on Friday, November 15th. Evercore ISI increased their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 2nd. Finally, Truist Financial boosted their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. One 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 company's stock. According to MarketBeat, Fifth Third Bancorp has a consensus rating of "Hold" and a consensus target price of $46.75.
Read Our Latest Analysis on Fifth Third Bancorp
Fifth Third Bancorp Price Performance
NASDAQ:FITB traded up $0.32 during trading hours on Thursday, reaching $44.49. The company had a trading volume of 2,714,878 shares, compared to its average volume of 5,221,784. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $29.83 billion, a PE ratio of 14.17, a PEG ratio of 1.91 and a beta of 1.24. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The stock has a 50-day moving average of $44.61 and a two-hundred day moving average of $43.27.
Fifth Third Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio is 47.13%.
Fifth Third Bancorp Profile
(
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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