Walter & Keenan Wealth Management LLC IN ADV Has $1.18 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Walter & Keenan Wealth Management LLC IN ADV lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 27,933 shares of the financial services provider’s stock after selling 489 shares during the period. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Fifth Third Bancorp were worth $1,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Savant Capital LLC raised its stake in shares of Fifth Third Bancorp by 10.6% during the 4th quarter. Savant Capital LLC now owns 21,906 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 2,104 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in Fifth Third Bancorp by 8.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,858 shares of the financial services provider’s stock worth $670,000 after acquiring an additional 1,193 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $790,000. Entropy Technologies LP bought a new position in Fifth Third Bancorp during the fourth quarter worth about $5,997,000. Finally, Advisory Resource Group increased its position in Fifth Third Bancorp by 1.4% during the fourth quarter. Advisory Resource Group now owns 116,986 shares of the financial services provider’s stock worth $4,946,000 after buying an additional 1,559 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on FITB shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Price Performance

FITB stock opened at $44.04 on Monday. The company’s 50-day moving average price is $44.06 and its two-hundred day moving average price is $43.45. The firm has a market cap of $29.53 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed 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 of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Fifth Third Bancorp Company 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.