Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,350 shares of the financial services provider’s stock after selling 2,550 shares during the quarter. Fifth Third Bancorp comprises 0.2% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 22nd biggest position. Heathbridge Capital Management Ltd.’s holdings in Fifth Third Bancorp were worth $564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $25,000. Venturi Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 89.5% in the third 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. Y.D. More Investments Ltd boosted its position 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 worth $35,000 after buying an additional 449 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter worth about $36,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Fifth Third Bancorp in the third quarter worth about $39,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $44.06 on Friday. The company 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 stock has a fifty day moving average price of $43.70 and a 200 day moving average price of $43.50. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 12 month low of $33.03 and a 12 month high of $49.07.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Wall Street Analysts Forecast Growth

FITB has been the subject of a number of analyst reports. Citigroup increased their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Barclays increased their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, DA Davidson lifted their target price 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.