Fifth Third Bancorp $FITB Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 50.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,104 shares of the financial services provider’s stock after selling 33,184 shares during the period. Park Avenue Securities LLC’s holdings in Fifth Third Bancorp were worth $1,550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthquest Corp increased its position in Fifth Third Bancorp by 2.3% during the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 244 shares during the last quarter. Capital Investment Advisory Services LLC raised its stake in Fifth Third Bancorp by 1.1% during the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 251 shares during the period. Foster & Motley Inc. boosted its holdings in Fifth Third Bancorp by 1.7% in the 3rd quarter. Foster & Motley Inc. now owns 15,981 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 265 shares during the last quarter. Trust Co. of Vermont boosted its holdings in Fifth Third Bancorp by 17.9% in the 3rd quarter. Trust Co. of Vermont now owns 1,761 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 267 shares during the last quarter. Finally, HBK Sorce Advisory LLC grew its stake in shares of Fifth Third Bancorp by 0.7% in the 3rd quarter. HBK Sorce Advisory LLC now owns 36,083 shares of the financial services provider’s stock valued at $1,549,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 1.4%

Shares of NASDAQ:FITB opened at $45.99 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $41.65 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The firm’s 50-day moving average is $49.81 and its two-hundred day moving average is $46.54. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio is presently 45.20%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FITB shares. Jefferies Financial Group raised their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Wall Street Zen cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. JPMorgan Chase & Co. initiated coverage on Fifth Third Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $50.50 price objective for the company. Truist Financial reduced their target price on Fifth Third Bancorp from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Barclays upped their price target on Fifth Third Bancorp from $51.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $56.99.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.