E. Ohman J or Asset Management AB Boosts Holdings in Fifth Third Bancorp (NASDAQ:FITB)

E. Ohman J or Asset Management AB increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 13.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,300 shares of the financial services provider’s stock after buying an additional 3,700 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Fifth Third Bancorp were worth $1,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $25,000. Venturi Wealth Management LLC boosted its holdings in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at $36,000. Hexagon Capital Partners LLC boosted its stake in Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Fifth Third Bancorp in the 3rd quarter worth about $39,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Up 0.3 %

Fifth Third Bancorp stock opened at $43.98 on Thursday. The firm has a 50 day moving average of $44.30 and a 200 day moving average of $43.40. The firm has a market capitalization of $29.49 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.37%. Fifth Third Bancorp’s payout ratio is 47.13%.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of analyst reports. Citigroup upped their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Truist Financial upped their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average 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.