31,700 Shares in Fifth Third Bancorp (NASDAQ:FITB) Bought by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 31,700 shares of the financial services provider’s stock, valued at approximately $1,340,000.

Other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter valued at $25,000. Venturi Wealth Management LLC grew its position in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp during the third quarter valued at $36,000. Hexagon Capital Partners LLC boosted its position in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp during the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FITB. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler restated an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Truist Financial boosted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $43.87 on Wednesday. The firm has a 50 day simple moving average of $44.39 and a 200-day simple moving average of $43.38. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $29.42 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.37%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

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.