Mather Group LLC. Grows Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Mather Group LLC. lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,576 shares of the financial services provider’s stock after purchasing an additional 554 shares during the period. Mather Group LLC.’s holdings in Fifth Third Bancorp were worth $193,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Czech National Bank grew its position in shares of Fifth Third Bancorp by 5.8% in the 3rd quarter. Czech National Bank now owns 137,886 shares of the financial services provider’s stock worth $5,907,000 after buying an additional 7,535 shares during the last quarter. Diversified Trust Co lifted its stake in Fifth Third Bancorp by 2.6% in the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 259 shares during the period. Atomi Financial Group Inc. boosted its holdings in Fifth Third Bancorp by 62.4% in the third quarter. Atomi Financial Group Inc. now owns 9,736 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 3,740 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares during the period. Finally, Wedmont Private Capital raised its holdings in Fifth Third Bancorp by 18.1% in the 3rd quarter. Wedmont Private Capital now owns 9,527 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 1,461 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $44.30 on Friday. The company has a market cap of $29.70 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.44 and a beta of 1.23. The business’s fifty day simple moving average is $44.21 and its two-hundred day simple moving average is $43.40. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Citigroup upped their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays raised their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. DA Davidson upped their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target 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.