Hengehold Capital Management LLC Purchases 1,884 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Hengehold Capital Management LLC lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,139 shares of the financial services provider’s stock after purchasing an additional 1,884 shares during the quarter. Hengehold Capital Management LLC’s holdings in Fifth Third Bancorp were worth $1,232,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after purchasing an additional 732,651 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Fifth Third Bancorp by 4.8% during 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 purchasing an additional 399,827 shares in the last quarter. Franklin Resources Inc. grew its position in Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after purchasing an additional 409,292 shares in the last quarter. Smead Capital Management Inc. increased its stake in Fifth Third Bancorp by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock valued at $95,278,000 after buying an additional 75,024 shares during the last quarter. Finally, Zacks Investment Management boosted its stake in shares of Fifth Third Bancorp by 10.0% in the 3rd quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock worth $74,450,000 after buying an additional 158,067 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on FITB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday. Evercore ISI lifted their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company boosted their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $43.85 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The company has a market cap of $29.40 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The company has a 50-day moving average price of $44.85 and a 200-day moving average price of $43.02.

Fifth Third Bancorp Announces Dividend

The business also recently announced 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.38%. 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.