Stoneridge Investment Partners LLC acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 12,821 shares of the financial services provider’s stock, valued at approximately $724,000.
A number of other institutional investors and hedge funds have also bought and sold shares of FITB. Avalon Trust Co purchased a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth $40,000. Family Legacy Inc. bought a new position in shares of Fifth Third Bancorp during the 2nd quarter worth $1,153,000. Clearstead Trust LLC purchased a new position in shares of Fifth Third Bancorp during the second quarter valued at $29,000. Bridgewater Advisors Inc. purchased a new position in shares of Fifth Third Bancorp during the second quarter valued at $217,000. Finally, USA Financial Formulas bought a new stake in shares of Fifth Third Bancorp in the first quarter valued at about $171,000. 83.79% of the stock is owned by institutional investors.
Fifth Third Bancorp Trading Up 0.2%
FITB opened at $58.05 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The firm has a market cap of $52.65 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.09 and a beta of 0.91. Fifth Third Bancorp has a 12 month low of $40.04 and a 12 month high of $59.50. The stock has a fifty day moving average price of $56.27 and a 200-day moving average price of $51.77.
Fifth Third Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 54.61%.
Analyst Ratings Changes
FITB has been the subject of a number of research reports. Royal Bank Of Canada upped their price objective on shares of Fifth Third Bancorp from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Citigroup raised their target price on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Wells Fargo & Company boosted their price target on shares of Fifth Third Bancorp from $58.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Robert W. Baird upped their price target on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Stephens assumed coverage on shares of Fifth Third Bancorp in a research note on Monday, June 15th. They set an “equal weight” rating and a $58.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.54.
Get Our Latest Analysis on FITB
About Fifth Third Bancorp
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.
Featured Stories
- Five stocks we like better than Fifth Third Bancorp
- Is Best Buy the AI Winner Hiding in the Electronics Aisle?
- Applied Materials Beat Everything but Wall Street’s Expectations for Margins
- Back From Orbit, Intuitive Machines’ Share Price Enters the Buy Zone
- Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing
Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITB – Free Report).
Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
