Sapient Capital LLC Boosts Position in Fifth Third Bancorp (NASDAQ:FITB)

Sapient Capital LLC lifted its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 1,334.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 302,550 shares of the financial services provider's stock after purchasing an additional 281,458 shares during the period. Sapient Capital LLC's holdings in Fifth Third Bancorp were worth $12,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FITB. Charles Schwab Investment Management Inc. increased its stake in shares of Fifth Third Bancorp by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider's stock worth $889,978,000 after purchasing an additional 732,651 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Fifth Third Bancorp during the third quarter worth $28,490,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Fifth Third Bancorp by 76.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider's stock worth $57,005,000 after acquiring an additional 575,449 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock worth $242,713,000 after acquiring an additional 409,292 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Fifth Third Bancorp by 4.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider's stock worth $371,837,000 after acquiring an additional 399,827 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FITB shares. Baird R W lowered shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. DA Davidson upped their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Piper Sandler restated an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an "outperform" rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday. Finally, Truist Financial increased 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Hold" and an average target price of $46.75.

Fifth Third Bancorp Trading Up 1.1 %

Shares of Fifth Third Bancorp stock traded up $0.48 during trading on Friday, hitting $44.06. The stock had a trading volume of 4,676,808 shares, compared to its average volume of 4,683,563. The firm's fifty day simple moving average is $43.77 and its 200-day simple moving average is $43.49. The stock has a market cap of $29.54 billion, a PE ratio of 14.03, a PEG ratio of 1.44 and a beta of 1.23. 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 $33.03 and a 12 month high of $49.07.

Fifth Third Bancorp Announces Dividend

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

Fifth Third Bancorp Company Profile

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.