Kennebec Savings Bank Has $379,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

Kennebec Savings Bank boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,072 shares of the financial services provider’s stock after acquiring an additional 315 shares during the period. Kennebec Savings Bank’s holdings in Fifth Third Bancorp were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of Fifth Third Bancorp by 63.3% during the 2nd quarter. AQR Capital Management LLC now owns 72,611 shares of the financial services provider’s stock worth $2,615,000 after buying an additional 28,156 shares during the last quarter. Millennium Management LLC lifted its position in Fifth Third Bancorp by 896.7% during the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock worth $23,678,000 after acquiring an additional 583,781 shares during the last quarter. Creative Planning boosted its holdings in shares of Fifth Third Bancorp by 3.2% during the second quarter. Creative Planning now owns 232,201 shares of the financial services provider’s stock worth $8,473,000 after acquiring an additional 7,157 shares during the period. Cetera Investment Advisers increased its stake in shares of Fifth Third Bancorp by 3.0% during the second quarter. Cetera Investment Advisers now owns 175,140 shares of the financial services provider’s stock worth $6,391,000 after purchasing an additional 5,135 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $79,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FITB shares. Piper Sandler reiterated an “overweight” rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Truist Financial lifted their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Barclays increased their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. DA Davidson boosted their price target 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, Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $44.49 on Friday. The firm has a 50 day simple moving average of $44.61 and a 200 day simple moving average of $43.27. The company has a market cap of $29.83 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.44 and a beta of 1.24. Fifth Third Bancorp has a one year low of $32.29 and a one 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.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.33%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

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.