Activest Wealth Management Buys 626 Shares of Fifth Third Bancorp $FITB

Activest Wealth Management increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1,043.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 686 shares of the financial services provider’s stock after acquiring an additional 626 shares during the period. Activest Wealth Management’s holdings in Fifth Third Bancorp were worth $28,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. HWG Holdings LP bought a new stake in Fifth Third Bancorp during the first quarter worth about $27,000. Banque Transatlantique SA bought a new stake in Fifth Third Bancorp in the first quarter valued at approximately $27,000. Larson Financial Group LLC raised its stake in Fifth Third Bancorp by 91.3% in the first quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider’s stock valued at $29,000 after buying an additional 357 shares during the period. BankPlus Trust Department raised its stake in Fifth Third Bancorp by 53.0% in the second quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock valued at $34,000 after buying an additional 290 shares during the period. Finally, Grove Bank & Trust raised its stake in Fifth Third Bancorp by 60.7% in the first quarter. Grove Bank & Trust now owns 887 shares of the financial services provider’s stock valued at $35,000 after buying an additional 335 shares during the period. Institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FITB shares. Truist Financial upped their price objective on Fifth Third Bancorp from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Evercore ISI upped their price objective on Fifth Third Bancorp from $45.00 to $49.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Janney Montgomery Scott upped their price objective on Fifth Third Bancorp from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price objective on Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, October 7th. Finally, The Goldman Sachs Group upped their price objective on Fifth Third Bancorp from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.35.

Fifth Third Bancorp Trading Down 6.0%

Shares of NASDAQ:FITB opened at $40.36 on Friday. The company has a market capitalization of $26.71 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.16 and a beta of 0.95. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day simple moving average is $44.30 and its 200 day simple moving average is $40.79.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.37. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.69%.

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.