Park National Corp OH Has $1.06 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Park National Corp OH lessened its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 24.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,988 shares of the financial services provider's stock after selling 8,650 shares during the quarter. Park National Corp OH's holdings in Fifth Third Bancorp were worth $1,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth $28,000. BankPlus Trust Department acquired a new position in shares of Fifth Third Bancorp in the 4th quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Fifth Third Bancorp in the 4th quarter worth approximately $29,000. Midwest Capital Advisors LLC bought a new position in Fifth Third Bancorp during the fourth quarter worth $33,000. Finally, REAP Financial Group LLC lifted its stake 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 worth $33,000 after purchasing an additional 487 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on FITB. Wells Fargo & Company reduced their price target on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price target on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Truist Financial cut their price target on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Citigroup cut their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, Baird R W upgraded Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.78.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock traded down $0.24 during midday trading on Friday, hitting $38.08. The company's stock had a trading volume of 5,721,311 shares, compared to its average volume of 4,503,892. 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 stock's 50-day moving average price is $36.73 and its 200-day moving average price is $41.26. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The company has a market capitalization of $25.42 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS 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 business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the firm earned $0.70 EPS. Analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 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 3.89%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

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.