Axecap Investments LLC Increases Stake in Fifth Third Bancorp (NASDAQ:FITB)

Axecap Investments LLC lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,391 shares of the financial services provider’s stock after acquiring an additional 3,873 shares during the period. Fifth Third Bancorp accounts for about 1.7% of Axecap Investments LLC’s investment portfolio, making the stock its 26th largest position. Axecap Investments LLC’s holdings in Fifth Third Bancorp were worth $2,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Fifth Third Bancorp by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after buying an additional 732,651 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Fifth Third Bancorp in the third quarter valued at approximately $28,490,000. Teachers Retirement System of The State of Kentucky raised its holdings in Fifth Third Bancorp by 76.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock valued at $57,005,000 after buying an additional 575,449 shares during the period. Franklin Resources Inc. raised its holdings in Fifth Third Bancorp by 8.1% in the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after buying an additional 409,292 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Fifth Third Bancorp by 4.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock valued at $371,837,000 after buying an additional 399,827 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FITB has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. DA Davidson lifted their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday. Finally, Citigroup lifted their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $43.33 on Tuesday. The company has a market cap of $29.05 billion, a PE ratio of 13.80, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a fifty day moving average price of $44.06 and a two-hundred day moving average price of $43.46. 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 has a 12 month low of $32.29 and a 12 month high of $49.07.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is presently 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.