CX Institutional Raises Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

CX Institutional boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,301 shares of the financial services provider’s stock after purchasing an additional 303 shares during the quarter. CX Institutional’s holdings in Fifth Third Bancorp were worth $309,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FITB. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $25,000. Venturi Wealth Management LLC raised its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Fifth Third Bancorp during the third quarter worth about $36,000. Hexagon Capital Partners LLC grew its stake in Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in Fifth Third Bancorp in the third quarter valued at about $39,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Barclays lifted their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley increased their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Citigroup boosted 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. Finally, Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $44.18 on Monday. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The stock’s fifty day moving average is $44.72 and its 200-day moving average is $43.13. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.82 and a current ratio of 0.80. The firm has a market capitalization of $29.62 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.35%. Fifth Third Bancorp’s payout ratio is 47.13%.

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.