5,918 Shares in Fifth Third Bancorp (NASDAQ:FITB) Bought by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated bought a new stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,918 shares of the financial services provider's stock, valued at approximately $253,000.

Several other hedge funds have also bought and sold shares of FITB. Charles Schwab Investment Management Inc. lifted its position in 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 worth $889,978,000 after acquiring an additional 732,651 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Fifth Third Bancorp during the third quarter worth approximately $28,490,000. Teachers Retirement System of The State of Kentucky lifted its position in 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. lifted its position in 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 lifted its position in 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 currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FITB has been the subject of several research reports. Royal Bank of Canada restated an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday. Barclays lifted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target 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. Wells Fargo & Company lifted their price target 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. Finally, 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $46.75.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB traded up $0.15 during midday trading on Thursday, reaching $43.58. 3,913,443 shares of the company were exchanged, compared to its average volume of 4,683,798. The stock's 50-day moving average price is $43.84 and its 200-day moving average price is $43.49. The stock has a market cap of $29.22 billion, a P/E ratio of 13.88, a PEG ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a one year low of $33.03 and a one year high of $49.07. 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 Dividend Announcement

The business also recently announced 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. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.40%. Fifth Third Bancorp's payout ratio is presently 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.