Stratos Wealth Partners LTD. Buys 2,163 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Stratos Wealth Partners LTD. lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 23.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,206 shares of the financial services provider’s stock after buying an additional 2,163 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Fifth Third Bancorp were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Fifth Third Bancorp by 3.7% in the 3rd 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 acquiring an additional 732,651 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Fifth Third Bancorp in the 3rd quarter valued at about $28,490,000. Teachers Retirement System of The State of Kentucky grew its holdings in Fifth Third Bancorp by 76.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after purchasing an additional 575,449 shares during the period. Franklin Resources Inc. raised its stake 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 stake 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 institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup boosted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods upped 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 research note on Wednesday, December 4th. Finally, Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Stock Up 1.5 %

FITB stock opened at $44.00 on Wednesday. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The business has a 50-day simple moving average of $43.97 and a 200 day simple moving average of $43.47. 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 cap of $29.50 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 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.