Caprock Group LLC Raises Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Caprock Group LLC raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,045 shares of the financial services provider’s stock after buying an additional 1,891 shares during the quarter. Caprock Group LLC’s holdings in Fifth Third Bancorp were worth $557,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Boston Common Asset Management LLC grew its holdings in Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after buying an additional 34,203 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Fifth Third Bancorp by 15.1% in the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock valued at $3,078,000 after buying an additional 9,444 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Fifth Third Bancorp by 13.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after buying an additional 55,081 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in Fifth Third Bancorp in the 3rd quarter valued at $541,000. Finally, Nordea Investment Management AB grew its holdings in Fifth Third Bancorp by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock valued at $28,286,000 after buying an additional 54,463 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FITB. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Truist Financial increased their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp Price Performance

FITB stock opened at $43.87 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $29.42 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.44 and a beta of 1.23. The business’s 50-day moving average is $44.39 and its two-hundred day moving average is $43.38. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.37%. Fifth Third Bancorp’s payout ratio is currently 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.