Equitable Trust Co. Buys Shares of 17,139 Fifth Third Bancorp (NASDAQ:FITB)

Equitable Trust Co. purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, HoldingsChannel reports. The firm purchased 17,139 shares of the financial services provider’s stock, valued at approximately $725,000.

Other hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Fifth Third Bancorp in the third quarter worth approximately $36,000. Y.D. More Investments Ltd boosted its position in shares of Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 449 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Fifth Third Bancorp in the third quarter worth approximately $39,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. DA Davidson upped 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 report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday. Piper Sandler restated an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Truist Financial upped their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Trading Down 1.6 %

Shares of FITB opened at $43.33 on Tuesday. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The company has a market cap of $29.05 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company’s fifty day simple moving average is $44.06 and its 200-day simple moving average is $43.46.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend 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.