U.S. Capital Wealth Advisors LLC Acquires 2,616 Shares of Fifth Third Bancorp $FITB

U.S. Capital Wealth Advisors LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.5% during the 2nd quarter, Holdings Channel reports. The firm owned 50,008 shares of the financial services provider’s stock after acquiring an additional 2,616 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vise Technologies Inc. raised its position in Fifth Third Bancorp by 28.7% in the fourth quarter. Vise Technologies Inc. now owns 8,088 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 1,804 shares during the period. Mackenzie Financial Corp increased its stake in shares of Fifth Third Bancorp by 23.1% during the 4th quarter. Mackenzie Financial Corp now owns 81,461 shares of the financial services provider’s stock worth $3,444,000 after purchasing an additional 15,265 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $54,000. Pinnacle Wealth Planning Services Inc. lifted its stake in Fifth Third Bancorp by 36.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 11,794 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 3,120 shares during the last quarter. Finally, REAP Financial Group LLC grew its holdings in Fifth Third Bancorp by 161.8% during the fourth quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 487 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FITB has been the topic of several research reports. Truist Financial boosted their target price on Fifth Third Bancorp from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Citigroup boosted their price objective on Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday. DA Davidson upgraded shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and increased their target price for the stock from $42.00 to $47.00 in a research report on Monday, June 9th. Piper Sandler lifted their target price on shares of Fifth Third Bancorp from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 10th. Finally, Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average price target of $48.60.

Fifth Third Bancorp Trading Up 0.4%

Shares of FITB opened at $45.14 on Wednesday. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The firm has a market cap of $29.88 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.44 and a beta of 0.93. The firm has a 50 day moving average price of $43.78 and a 200-day moving average price of $40.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, September 30th. Fifth Third Bancorp’s payout ratio is 45.96%.

Fifth Third Bancorp announced that its Board of Directors has authorized a stock repurchase plan on Monday, June 16th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.