Atwood & Palmer Inc. Decreases Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Atwood & Palmer Inc. trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 840,702 shares of the financial services provider's stock after selling 36,992 shares during the quarter. Fifth Third Bancorp accounts for approximately 2.3% of Atwood & Palmer Inc.'s investment portfolio, making the stock its 14th biggest position. Atwood & Palmer Inc. owned 0.13% of Fifth Third Bancorp worth $32,956,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FITB. Norges Bank purchased a new stake in Fifth Third Bancorp in the fourth quarter valued at $371,836,000. PL Capital Advisors LLC grew its stake in shares of Fifth Third Bancorp by 4,128.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider's stock valued at $78,654,000 after purchasing an additional 1,816,320 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $53,508,000. GAMMA Investing LLC raised its stake in shares of Fifth Third Bancorp by 4,271.4% during the first quarter. GAMMA Investing LLC now owns 1,203,362 shares of the financial services provider's stock worth $47,172,000 after purchasing an additional 1,175,834 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Fifth Third Bancorp by 12.1% during the fourth quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock worth $402,991,000 after purchasing an additional 1,027,044 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

FITB has been the topic of several recent research reports. TD Cowen assumed coverage on shares of Fifth Third Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $52.00 price objective on the stock. Barclays decreased their price objective on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company increased their target price on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the company an "overweight" rating in a report on Tuesday. Truist Financial decreased their price target on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods lowered their target price on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.53.

Fifth Third Bancorp Trading Up 0.5%

NASDAQ FITB traded up $0.20 during trading hours on Tuesday, hitting $39.78. 5,225,920 shares of the company's stock were exchanged, compared to its average volume of 4,524,186. The business's 50 day moving average is $36.65 and its 200-day moving average is $40.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The firm has a market capitalization of $26.55 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm posted $0.70 earnings per share. As a group, analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.72%. Fifth Third Bancorp's dividend payout ratio is presently 46.98%.

Fifth Third Bancorp Profile

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.