Vontobel Holding Ltd. Has $647,000 Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Vontobel Holding Ltd. grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 79.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,305 shares of the financial services provider’s stock after purchasing an additional 6,774 shares during the quarter. Vontobel Holding Ltd.’s holdings in Fifth Third Bancorp were worth $647,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Asset Management One Co. Ltd. lifted its holdings in shares of Fifth Third Bancorp by 3.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 265,622 shares of the financial services provider’s stock worth $11,395,000 after buying an additional 8,144 shares in the last quarter. Kentucky Trust Co purchased a new stake in Fifth Third Bancorp in the fourth quarter worth approximately $987,000. Axecap Investments LLC raised its position in Fifth Third Bancorp by 7.7% in the 4th quarter. Axecap Investments LLC now owns 54,391 shares of the financial services provider’s stock worth $2,300,000 after purchasing an additional 3,873 shares during the period. Sapient Capital LLC grew its holdings in shares of Fifth Third Bancorp by 1,334.4% in the fourth quarter. Sapient Capital LLC now owns 302,550 shares of the financial services provider’s stock worth $12,904,000 after purchasing an additional 281,458 shares during the last quarter. Finally, Equitable Trust Co. purchased a new position in shares of Fifth Third Bancorp in the fourth quarter valued at about $725,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays raised their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. 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 note on Friday, November 22nd. Truist Financial raised their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp Stock Down 0.2 %

Shares of Fifth Third Bancorp stock opened at $44.35 on Thursday. Fifth Third Bancorp has a 1-year low of $33.03 and a 1-year high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $29.74 billion, a PE ratio of 14.12, a P/E/G ratio of 1.43 and a beta of 1.23. The business has a 50-day moving average of $43.62 and a 200-day moving average of $43.58.

Fifth Third Bancorp Announces Dividend

The business also recently declared 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.34%. 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.