Kentucky Trust Co Buys Shares of 23,344 Fifth Third Bancorp (NASDAQ:FITB)

Kentucky Trust Co bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,344 shares of the financial services provider’s stock, valued at approximately $987,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at about $25,000. Venturi Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 316 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 449 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the third quarter valued at about $36,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp during the third quarter valued at about $39,000. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Barclays lifted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday. Finally, DA Davidson lifted their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Trading Up 1.5 %

Shares of FITB stock opened at $44.00 on Wednesday. The company has a market cap of $29.50 billion, a P/E ratio of 14.01, a PEG ratio of 1.44 and a beta of 1.23. The stock has a 50 day simple moving average of $43.97 and a two-hundred day simple moving average of $43.47. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 yield of 3.36%. Fifth Third Bancorp’s 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.