Hengehold Capital Management LLC Acquires 1,884 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Hengehold Capital Management LLC lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,139 shares of the financial services provider’s stock after purchasing an additional 1,884 shares during the period. Hengehold Capital Management LLC’s holdings in Fifth Third Bancorp were worth $1,232,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Fifth Third Bancorp by 3.7% in 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. Allspring Global Investments Holdings LLC increased its position in shares of 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 worth $371,837,000 after acquiring an additional 399,827 shares in the last quarter. Franklin Resources Inc. lifted its position in Fifth Third Bancorp by 8.1% in the 3rd 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 in the last quarter. Smead Capital Management Inc. boosted its stake in Fifth Third Bancorp by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock worth $95,278,000 after purchasing an additional 75,024 shares during the period. Finally, Zacks Investment Management raised its stake in shares of Fifth Third Bancorp by 10.0% in the 3rd quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock valued at $74,450,000 after purchasing an additional 158,067 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FITB shares. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Evercore ISI boosted their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Barclays raised their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, DA Davidson upped their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $43.85 on Friday. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a market cap of $29.40 billion, a PE ratio of 13.96, a P/E/G ratio of 1.95 and a beta of 1.24. The business’s 50-day moving average price is $44.85 and its two-hundred day moving average price is $43.02.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Insider Activity

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

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.