Centennial Wealth Advisory LLC Has $435,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Centennial Wealth Advisory LLC increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.1% in the 4th quarter, Holdings Channel reports. The firm owned 10,281 shares of the financial services provider’s stock after purchasing an additional 590 shares during the period. Centennial Wealth Advisory LLC’s holdings in Fifth Third Bancorp were worth $435,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. OneDigital Investment Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 1.1% during the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in shares of Fifth Third Bancorp by 7.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after buying an additional 232 shares during the last quarter. Eads & Heald Wealth Management lifted its holdings in shares of Fifth Third Bancorp by 3.0% during the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after buying an additional 235 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 236 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Fifth Third Bancorp by 4.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 246 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $43.98 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $29.49 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.44 and a beta of 1.23. The business’s fifty day moving average is $44.30 and its two-hundred day moving average is $43.40. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Ratings Changes

FITB has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler restated an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Citigroup boosted their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Truist Financial boosted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.75.

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.