Cantor Fitzgerald Investment Advisors L.P. Acquires New Holdings in Fifth Third Bancorp $FITB

Key Points

• Cantor Fitzgerald Investment Advisors acquired a new stake of 150,171 shares of Fifth Third Bancorp in Q4, valued at approximately $7.03 million per the firm's Form 13F filing.
• Fifth Third declared a quarterly dividend of $0.40 per share (annualized $1.60), a ~3.2% yield; the ex-dividend date is March 31 and payment is scheduled for April 15.
• Analyst sentiment is positive with several firms raising targets (Jefferies to $60, UBS $59); the stock has 17 Buy and 3 Hold ratings and an average target price of $56.41 ("Moderate Buy").

Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 150,171 shares of the financial services provider's stock, valued at approximately $7,030,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Austin Private Wealth LLC lifted its stake in Fifth Third Bancorp by 2.7% in the 4th quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider's stock valued at $407,000 after purchasing an additional 228 shares during the last quarter. Wealthquest Corp lifted its stake in Fifth Third Bancorp by 2.3% in the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 244 shares during the last quarter. Capital Investment Advisory Services LLC lifted its stake in Fifth Third Bancorp by 1.1% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider's stock valued at $1,011,000 after purchasing an additional 251 shares during the last quarter. Foster & Motley Inc. lifted its stake in Fifth Third Bancorp by 1.7% in the 3rd quarter. Foster & Motley Inc. now owns 15,981 shares of the financial services provider's stock valued at $712,000 after purchasing an additional 265 shares during the last quarter. Finally, Trust Co. of Vermont lifted its stake in Fifth Third Bancorp by 17.9% in the 3rd quarter. Trust Co. of Vermont now owns 1,761 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Trading Down 1.8%

FITB opened at $49.31 on Friday. Fifth Third Bancorp has a twelve month low of $32.79 and a twelve month high of $55.44. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $49.02 and a 200-day moving average of $46.67. The stock has a market cap of $44.65 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 45.20%.

Analysts Set New Price Targets

Several equities analysts have issued reports on FITB shares. Jefferies Financial Group upped their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday. UBS Group restated a "buy" rating and issued a $59.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Janney Montgomery Scott upped their price target on shares of Fifth Third Bancorp from $51.00 to $56.25 and gave the company a "buy" rating in a research report on Wednesday, January 21st. Weiss Ratings upgraded shares of Fifth Third Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 26th. Finally, Piper Sandler restated an "overweight" rating and issued a $54.00 price target (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $56.41.

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.

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