Fifth Third Bancorp (NASDAQ:FITB) Stake Cut by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,256 shares of the financial services provider’s stock after selling 23,128 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Fifth Third Bancorp were worth $11,553,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC grew its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd 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 in the last quarter. Legacy Investment Solutions LLC acquired a new position in Fifth Third Bancorp in the third quarter worth approximately $36,000. Hexagon Capital Partners LLC raised its position in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Fifth Third Bancorp in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FITB shares. Keefe, Bruyette & Woods raised their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Barclays boosted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Evercore ISI increased their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $44.17 on Thursday. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $44.65 and a 200 day simple moving average of $43.27. The firm has a market capitalization of $29.62 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.91 and a beta of 1.24.

Fifth Third Bancorp Announces Dividend

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