Diversified Trust Co. Purchases 44,542 Shares of Fifth Third Bancorp $FITB

Diversified Trust Co. lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 413.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 55,303 shares of the financial services provider’s stock after acquiring an additional 44,542 shares during the period. Diversified Trust Co.’s holdings in Fifth Third Bancorp were worth $2,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Evolution Wealth Management Inc. bought a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $26,000. Westside Investment Management Inc. raised its position in Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 292 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares during the last quarter. United Community Bank lifted its position in shares of Fifth Third Bancorp by 581.0% in the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after buying an additional 581 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in Fifth Third Bancorp during the second quarter worth $48,000. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FITB. Wall Street Zen lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. DA Davidson boosted their price target on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Royal Bank Of Canada raised their target price on shares of Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Robert W. Baird lifted their price target on Fifth Third Bancorp from $50.00 to $55.00 in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Fifth Third Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $50.50 price objective on the stock. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.99.

Fifth Third Bancorp Stock Up 1.4%

Shares of NASDAQ:FITB opened at $45.99 on Wednesday. The business’s 50-day moving average is $49.81 and its 200-day moving average is $46.54. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The company has a market capitalization of $41.65 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 0.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.5%. Fifth Third Bancorp’s payout ratio is 45.20%.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.