Boston Common Asset Management LLC Grows Stake in Fifth Third Bancorp $FITB

Boston Common Asset Management LLC increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 295,193 shares of the financial services provider’s stock after acquiring an additional 18,891 shares during the period. Boston Common Asset Management LLC’s holdings in Fifth Third Bancorp were worth $13,818,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FITB. Mn Services Vermogensbeheer B.V. grew its stake in shares of Fifth Third Bancorp by 1.4% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 254,524 shares of the financial services provider’s stock valued at $11,914,000 after purchasing an additional 3,424 shares during the period. Goelzer Investment Management Inc. lifted its stake in shares of Fifth Third Bancorp by 0.4% in the 4th quarter. Goelzer Investment Management Inc. now owns 101,462 shares of the financial services provider’s stock worth $4,749,000 after purchasing an additional 444 shares during the period. Spire Wealth Management boosted its holdings in shares of Fifth Third Bancorp by 59.6% in the fourth quarter. Spire Wealth Management now owns 14,258 shares of the financial services provider’s stock worth $667,000 after buying an additional 5,325 shares during the last quarter. Woodward Diversified Capital LLC boosted its holdings in shares of Fifth Third Bancorp by 4.2% in the fourth quarter. Woodward Diversified Capital LLC now owns 14,594 shares of the financial services provider’s stock worth $683,000 after buying an additional 594 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Fifth Third Bancorp by 4.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,209 shares of the financial services provider’s stock valued at $384,000 after buying an additional 352 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Argus increased their price target on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research report on Thursday, January 22nd. UBS Group reissued a “buy” rating and set a $59.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Wolfe Research upped their price objective on Fifth Third Bancorp from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. started coverage on Fifth Third Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $50.50 target price on the stock. Finally, Truist Financial lowered their target price on Fifth Third Bancorp from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.84.

Fifth Third Bancorp Trading Up 0.3%

Shares of Fifth Third Bancorp stock opened at $44.68 on Tuesday. The company has a market capitalization of $40.46 billion, a P/E ratio of 12.62, a P/E/G ratio of 0.87 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The company has a fifty day moving average of $49.50 and a 200 day moving average of $46.53. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $55.44.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.6%. Fifth Third Bancorp’s dividend payout ratio is 45.20%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.