Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Chicago Capital LLC

Chicago Capital LLC boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 1.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 40,997 shares of the financial services provider’s stock after purchasing an additional 625 shares during the quarter. Chicago Capital LLC’s holdings in Fifth Third Bancorp were worth $1,733,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Common Asset Management LLC lifted its holdings in shares of Fifth Third Bancorp by 12.4% during the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after acquiring an additional 34,203 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Fifth Third Bancorp by 15.1% during the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Fifth Third Bancorp by 13.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock worth $19,776,000 after buying an additional 55,081 shares during the period. Icon Wealth Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $541,000. Finally, Nordea Investment Management AB lifted its position in Fifth Third Bancorp by 8.9% during the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock worth $28,286,000 after acquiring an additional 54,463 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

FITB has been the subject of several analyst reports. Truist Financial upped their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. DA Davidson raised their price target 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. Wells Fargo & Company raised their price objective 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. Finally, Citigroup lifted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $44.31 on Monday. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company has a 50-day moving average of $44.48 and a two-hundred day moving average of $43.34. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $29.71 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.34%. The ex-dividend date was Tuesday, December 31st. 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.