Greenleaf Trust Buys 5,593 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Greenleaf Trust boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 9.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,913 shares of the financial services provider’s stock after purchasing an additional 5,593 shares during the quarter. Greenleaf Trust’s holdings in Fifth Third Bancorp were worth $2,745,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC lifted its holdings 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 worth $29,000 after buying an additional 316 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter worth approximately $36,000. Hexagon Capital Partners LLC lifted its holdings in shares of Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Fifth Third Bancorp during the third quarter worth approximately $39,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $44.31 on Monday. The stock has a fifty day moving average price of $44.48 and a two-hundred day moving average price of $43.34. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $29.71 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.44 and a beta of 1.24. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-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. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Analyst Ratings Changes

A number of research analysts have recently commented on FITB shares. Keefe, Bruyette & Woods upped their price target 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. Piper Sandler reiterated an “overweight” rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, DA Davidson upped 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.