Fifth Third Bancorp $FITB Stock Position Increased by Diversified Trust Co.

Diversified Trust Co. raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 413.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,303 shares of the financial services provider’s stock after purchasing an additional 44,542 shares during the period. Diversified Trust Co.’s holdings in Fifth Third Bancorp were worth $2,589,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Empowered Funds LLC increased its position in Fifth Third Bancorp by 7.1% in the 1st quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 916 shares during the period. Woodline Partners LP raised its stake in Fifth Third Bancorp by 40.5% during the 1st quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock valued at $2,218,000 after acquiring an additional 16,323 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Fifth Third Bancorp by 1.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 109,203 shares of the financial services provider’s stock worth $4,492,000 after acquiring an additional 1,743 shares during the period. AlphaCore Capital LLC bought a new position in shares of Fifth Third Bancorp in the second quarter worth $264,000. Finally, Prudential Financial Inc. grew its stake in shares of Fifth Third Bancorp by 3.1% in the second quarter. Prudential Financial Inc. now owns 400,019 shares of the financial services provider’s stock worth $16,453,000 after purchasing an additional 12,163 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 1.4%

Shares of Fifth Third Bancorp stock opened at $45.99 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $41.65 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $55.44. The stock’s fifty day moving average is $49.81 and its 200-day moving average is $46.54.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 45.20%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Robert W. Baird boosted their price target on shares of Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Wall Street Zen cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. JPMorgan Chase & Co. began coverage on Fifth Third Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $50.50 target price for the company. Finally, Truist Financial decreased their price target on Fifth Third Bancorp from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.99.

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.