18,677 Shares in Fifth Third Bancorp (NASDAQ:FITB) Bought by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC acquired a new position in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 18,677 shares of the financial services provider’s stock, valued at approximately $790,000.

A number of other large investors have also recently bought and sold shares of FITB. Charles Schwab Investment Management Inc. boosted its holdings in Fifth Third Bancorp by 3.7% during the third 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 acquiring an additional 732,651 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Fifth Third Bancorp during the third quarter valued at about $28,490,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Fifth Third Bancorp by 76.2% during 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 acquiring an additional 575,449 shares during the period. Franklin Resources Inc. boosted its holdings in Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after acquiring an additional 409,292 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Fifth Third Bancorp by 4.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock valued at $371,837,000 after acquiring an additional 399,827 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $44.04 on Friday. The firm has a market cap of $29.53 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.44 and a beta of 1.23. The company has a 50 day moving average of $44.06 and a 200-day moving average of $43.43. 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 1-year low of $32.29 and a 1-year high of $49.07.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.13%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FITB. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. DA Davidson upped their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Barclays upped their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Citigroup upped their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp Company Profile

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.