Stablepoint Partners LLC Has $4.61 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Stablepoint Partners LLC lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 108,960 shares of the financial services provider’s stock after buying an additional 299 shares during the quarter. Stablepoint Partners LLC’s holdings in Fifth Third Bancorp were worth $4,607,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FITB. Charles Schwab Investment Management Inc. grew its stake in Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after acquiring an additional 732,651 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 purchasing an additional 399,827 shares during the period. Franklin Resources Inc. grew 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 valued at $242,713,000 after purchasing an additional 409,292 shares in the last quarter. Smead Capital Management Inc. increased its stake in Fifth Third Bancorp by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock valued at $95,278,000 after buying an additional 75,024 shares during the period. Finally, Zacks Investment Management lifted its position in Fifth Third Bancorp by 10.0% in the 3rd quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock worth $74,450,000 after buying an additional 158,067 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 0.8 %

Shares of NASDAQ:FITB opened at $44.18 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.82 and a current ratio of 0.80. The stock’s 50-day moving average is $44.72 and its 200-day moving average is $43.08. The company has a market cap of $29.62 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.91 and a beta of 1.24. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.13%.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a report on Wednesday. Citigroup increased their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.