CX Institutional Boosts Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

CX Institutional raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,301 shares of the financial services provider’s stock after purchasing an additional 303 shares during the quarter. CX Institutional’s holdings in Fifth Third Bancorp were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Common Asset Management LLC boosted its stake in shares of Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after buying an additional 34,203 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Fifth Third Bancorp by 13.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after purchasing an additional 55,081 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $541,000. Finally, Nordea Investment Management AB boosted its holdings in Fifth Third Bancorp by 8.9% during the fourth quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock worth $28,286,000 after buying an additional 54,463 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FITB. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Barclays lifted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $44.18 on Monday. The business’s 50-day simple moving average is $44.72 and its 200 day simple moving average is $43.13. The company has a market cap of $29.62 billion, a P/E ratio of 14.07, a PEG ratio of 1.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.82 and a current ratio of 0.80. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 dividend yield of 3.35%. Fifth Third Bancorp’s payout ratio is currently 47.13%.

Fifth Third Bancorp 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.