YANKCOM Partnership Purchases Shares of 14,792 Fifth Third Bancorp (NASDAQ:FITB)

YANKCOM Partnership bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,792 shares of the financial services provider's stock, valued at approximately $625,000.

Several other hedge funds have also added to or reduced their stakes in FITB. Boston Common Asset Management LLC increased its stake in shares of Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock worth $13,079,000 after buying an additional 34,203 shares during the period. QRG Capital Management Inc. grew its holdings in Fifth Third Bancorp by 15.1% in the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock worth $3,078,000 after acquiring an additional 9,444 shares during the last quarter. Lockheed Martin Investment Management Co. purchased a new position in shares of Fifth Third Bancorp in the fourth quarter valued at about $9,878,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fifth Third Bancorp by 13.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider's stock worth $19,776,000 after purchasing an additional 55,081 shares during the period. Finally, Smith Group Asset Management LLC bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $423,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

Shares of FITB stock traded down $0.26 during mid-day trading on Friday, reaching $44.04. The stock had a trading volume of 3,146,256 shares, compared to its average volume of 4,714,024. The business's fifty day moving average is $44.06 and its 200-day moving average is $43.45. The firm has a market cap of $29.53 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

FITB has been the subject of a number of recent analyst reports. Citigroup upped their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Baird R W downgraded Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. DA Davidson boosted 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. One investment 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's stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of "Hold" and an average price target of $46.75.

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.