Oakworth Capital Inc. Purchases 2,002 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Oakworth Capital Inc. grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 8,341.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,026 shares of the financial services provider’s stock after buying an additional 2,002 shares during the quarter. Oakworth Capital Inc.’s holdings in Fifth Third Bancorp were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FITB. Charles Schwab Investment Management Inc. increased its holdings in Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after purchasing an additional 732,651 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at $28,490,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Fifth Third Bancorp by 76.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock valued at $57,005,000 after buying an additional 575,449 shares during the last quarter. Franklin Resources Inc. lifted its position in Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after buying an additional 409,292 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Fifth Third Bancorp by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after acquiring an additional 399,827 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $44.30 on Friday. The stock has a market capitalization of $29.70 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.44 and a beta of 1.23. The firm has a fifty day simple moving average of $44.21 and a 200 day simple moving average of $43.40. 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 has a 12 month low of $32.29 and a 12 month high of $49.07.

Fifth Third Bancorp Dividend Announcement

The business 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 of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

Analyst Ratings Changes

FITB has been the subject of a number of research analyst reports. DA Davidson boosted their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Truist Financial increased their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company lifted their price target 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. Finally, Citigroup upped their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.