Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Valmark Advisers Inc.

Valmark Advisers Inc. boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,597 shares of the financial services provider’s stock after acquiring an additional 419 shares during the period. Valmark Advisers Inc.’s holdings in Fifth Third Bancorp were worth $702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. Allworth Financial LP boosted its holdings in shares of Fifth Third Bancorp by 6.7% in the 4th quarter. Allworth Financial LP now owns 7,559 shares of the financial services provider’s stock valued at $332,000 after buying an additional 477 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of Fifth Third Bancorp by 9.7% in the 4th quarter. Principal Securities Inc. now owns 30,929 shares of the financial services provider’s stock valued at $1,308,000 after buying an additional 2,724 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $1,821,000. Banque Pictet & Cie SA acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $507,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Fifth Third Bancorp by 79.4% in the 4th quarter. Vontobel Holding Ltd. now owns 15,305 shares of the financial services provider’s stock valued at $647,000 after buying an additional 6,774 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $44.06 on Tuesday. The company has a 50-day simple moving average of $43.70 and a 200-day simple moving average of $43.52. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $29.54 billion, a PE ratio of 14.03, a P/E/G ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a 52-week low of $33.03 and a 52-week high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued 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 dividend yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Analyst Upgrades and Downgrades

FITB has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Citigroup increased their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, DA Davidson increased 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 note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.75.

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.