Pacer Advisors Inc. Increases Stake in Fifth Third Bancorp (NASDAQ:FITB)

Pacer Advisors Inc. increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 43.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 72,835 shares of the financial services provider’s stock after buying an additional 21,895 shares during the quarter. Pacer Advisors Inc.’s holdings in Fifth Third Bancorp were worth $3,079,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $25,000. Venturi Wealth Management LLC increased its holdings in 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 valued at $29,000 after buying an additional 316 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at $36,000. Hexagon Capital Partners LLC lifted its holdings in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Fifth Third Bancorp in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 0.4 %

Fifth Third Bancorp stock opened at $44.31 on Friday. The stock’s 50 day moving average price is $44.55 and its 200 day moving average price is $43.28. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The company has a market cap of $29.71 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.34%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Ratings Changes

A number of research firms have weighed in on FITB. Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price objective on shares of 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. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, DA Davidson increased their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. One research 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 a consensus rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp Company 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.