Bright Futures Wealth Management LLC. Has $232,000 Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Bright Futures Wealth Management LLC. cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 33.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,247 shares of the financial services provider’s stock after selling 2,653 shares during the quarter. Bright Futures Wealth Management LLC.’s holdings in Fifth Third Bancorp were worth $232,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $25,000. Venturi Wealth Management LLC lifted its holdings in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after buying an additional 316 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $36,000. Y.D. More Investments Ltd increased its stake in shares of Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after buying an additional 449 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Fifth Third Bancorp during the third quarter worth about $39,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $43.58 on Friday. Fifth Third Bancorp has a twelve month low of $33.03 and a twelve month high of $49.07. The stock’s 50 day moving average is $43.84 and its 200-day moving average is $43.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $29.22 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Analyst Ratings Changes

Several brokerages recently commented on FITB. Keefe, Bruyette & Woods upped their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Piper Sandler reiterated 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. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, 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 report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.