Kestra Private Wealth Services LLC Has $670,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Kestra Private Wealth Services LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,858 shares of the financial services provider’s stock after acquiring an additional 1,193 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Fifth Third Bancorp were worth $670,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp during the fourth quarter worth $25,000. Venturi Wealth Management LLC increased its holdings in shares of 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 valued at $29,000 after acquiring an additional 316 shares during the last quarter. Y.D. More Investments Ltd raised its stake in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp in the 3rd quarter worth approximately $36,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Fifth Third Bancorp during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $44.06 on Friday. Fifth Third Bancorp has a twelve month low of $33.03 and a twelve month high of $49.07. 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 stock has a market cap of $29.54 billion, a P/E ratio of 14.03, a PEG ratio of 1.44 and a beta of 1.23. The company’s 50-day simple moving average is $43.77 and its 200 day simple moving average is $43.49.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.36%. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Analyst Ratings Changes

A number of analysts have recently weighed in on FITB shares. Barclays boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. DA Davidson increased their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Citigroup lifted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $46.75.

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.