Snowden Capital Advisors LLC Invests $377,000 in Fifth Third Bancorp (NASDAQ:FITB)

Snowden Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,830 shares of the financial services provider's stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth approximately $28,000. Quarry LP acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $29,000. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the fourth quarter worth $29,000. Midwest Capital Advisors LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter worth $33,000. Finally, Y.D. More Investments Ltd increased its holdings in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 449 shares during the period. Institutional investors and hedge funds own 83.79% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FITB. Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Truist Financial reduced their price objective on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their price target on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Stephens reissued an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Finally, Citigroup cut their price objective 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Fifth Third Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $46.78.

Fifth Third Bancorp Price Performance

FITB stock traded up $0.53 during trading on Tuesday, hitting $37.73. The company had a trading volume of 576,440 shares, compared to its average volume of 4,491,378. The company has a fifty day moving average price of $36.87 and a two-hundred day moving average price of $41.44. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a market cap of $25.18 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07.

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

Fifth Third Bancorp Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.92%. Fifth Third Bancorp's payout ratio is currently 46.98%.

Fifth Third Bancorp Company 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.