Intrua Financial LLC acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,869 shares of the financial services provider’s stock, valued at approximately $231,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FITB. Clarius Group LLC boosted its stake in Fifth Third Bancorp by 3.9% in the third quarter. Clarius Group LLC now owns 10,134 shares of the financial services provider’s stock worth $324,000 after buying an additional 376 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Fifth Third Bancorp by 56.8% in the second quarter. Teacher Retirement System of Texas now owns 247,196 shares of the financial services provider’s stock worth $8,306,000 after buying an additional 89,511 shares in the last quarter. HB Wealth Management LLC boosted its stake in Fifth Third Bancorp by 10.3% in the third quarter. HB Wealth Management LLC now owns 10,558 shares of the financial services provider’s stock worth $337,000 after buying an additional 989 shares in the last quarter. Texas Permanent School Fund boosted its stake in Fifth Third Bancorp by 7.1% in the third quarter. Texas Permanent School Fund now owns 97,091 shares of the financial services provider’s stock worth $3,103,000 after buying an additional 6,470 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH purchased a new stake in Fifth Third Bancorp in the fourth quarter worth approximately $36,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.
Fifth Third Bancorp Price Performance
Shares of Fifth Third Bancorp stock opened at $26.32 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. The company has a market cap of $17.93 billion, a PE ratio of 7.83, a P/E/G ratio of 0.85 and a beta of 1.21. The business has a 50 day moving average of $33.27 and a 200 day moving average of $33.79. Fifth Third Bancorp has a 52 week low of $22.11 and a 52 week high of $47.02.
Fifth Third Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $1.32 dividend on an annualized basis and a yield of 5.02%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 39.29%.
Analysts Set New Price Targets
FITB has been the subject of several research reports. Barclays cut their target price on Fifth Third Bancorp from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, January 3rd. StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, March 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on Fifth Third Bancorp from $44.00 to $37.00 in a research note on Friday, January 6th. Morgan Stanley reissued an “equal weight” rating and set a $37.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, December 5th. Finally, Citigroup increased their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average price target of $40.50.
Insiders Place Their Bets
In other Fifth Third Bancorp news, EVP Howard Hammond sold 1,000 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $37.32, for a total value of $37,320.00. Following the completion of the transaction, the executive vice president now owns 49,202 shares in the company, valued at $1,836,218.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Fifth Third Bancorp news, EVP Howard Hammond sold 1,000 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $37.32, for a total value of $37,320.00. Following the completion of the transaction, the executive vice president now owns 49,202 shares in the company, valued at $1,836,218.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary R. Heminger acquired 33,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was purchased at an average price of $26.82 per share, with a total value of $885,060.00. Following the acquisition, the director now owns 127,043 shares of the company’s stock, valued at approximately $3,407,293.26. The disclosure for this purchase can be found here. 0.66% of the stock is owned by corporate insiders.
Fifth Third Bancorp Profile
Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth and Asset Management.
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