BDF Gestion Reduces Stake in Fifth Third Bancorp (NASDAQ:FITB)

BDF Gestion reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,062 shares of the financial services provider’s stock after selling 12,086 shares during the quarter. BDF Gestion’s holdings in Fifth Third Bancorp were worth $3,935,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in shares of Fifth Third Bancorp by 63.3% in the 2nd quarter. AQR Capital Management LLC now owns 72,611 shares of the financial services provider’s stock valued at $2,615,000 after purchasing an additional 28,156 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Fifth Third Bancorp by 896.7% in the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after purchasing an additional 583,781 shares during the last quarter. Creative Planning lifted its stake in shares of Fifth Third Bancorp by 3.2% in the 2nd quarter. Creative Planning now owns 232,201 shares of the financial services provider’s stock valued at $8,473,000 after purchasing an additional 7,157 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Fifth Third Bancorp by 3.0% in the 2nd quarter. Cetera Investment Advisers now owns 175,140 shares of the financial services provider’s stock valued at $6,391,000 after purchasing an additional 5,135 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $79,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FITB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Evercore ISI increased their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial increased their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $44.17 on Thursday. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. 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. The business has a 50 day simple moving average of $44.65 and a 200 day simple moving average of $43.27. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.35%. Fifth Third Bancorp’s dividend payout ratio (DPR) 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.