Sumitomo Mitsui DS Asset Management Company Ltd Boosts Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 73,516 shares of the financial services provider’s stock after purchasing an additional 665 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Fifth Third Bancorp were worth $3,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wedmont Private Capital raised its position in shares of Fifth Third Bancorp by 18.1% during the 3rd quarter. Wedmont Private Capital now owns 9,527 shares of the financial services provider’s stock valued at $402,000 after buying an additional 1,461 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Fifth Third Bancorp by 257.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,183 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 4,454 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Fifth Third Bancorp in the third quarter valued at approximately $69,000. Koshinski Asset Management Inc. grew its stake in shares of Fifth Third Bancorp by 4.7% in the third quarter. Koshinski Asset Management Inc. now owns 6,244 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 283 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its holdings in Fifth Third Bancorp by 9.2% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 8,162 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 690 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FITB has been the subject of several research analyst reports. Truist Financial upped their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. DA Davidson lifted their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Citigroup raised 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. Wells Fargo & Company upped their target price 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, Piper Sandler reiterated an “overweight” rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp Price Performance

FITB opened at $44.04 on Monday. 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. The stock has a fifty day moving average price of $44.06 and a 200 day moving average price of $43.45. The stock 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.

Fifth Third Bancorp Dividend Announcement

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

Fifth Third Bancorp 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.