Sapient Capital LLC Acquires 281,458 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Sapient Capital LLC increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1,334.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 302,550 shares of the financial services provider’s stock after purchasing an additional 281,458 shares during the quarter. Sapient Capital LLC’s holdings in Fifth Third Bancorp were worth $12,904,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $25,000. Venturi Wealth Management LLC grew its holdings in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the third quarter valued at $36,000. Y.D. More Investments Ltd increased its holdings in Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after buying an additional 449 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Fifth Third Bancorp in the 3rd quarter valued at $39,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $43.33 on Tuesday. The firm’s 50 day moving average is $44.06 and its 200-day moving average is $43.46. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. 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 company has a market capitalization of $29.05 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.42%. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Piper Sandler reissued an “overweight” rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Truist Financial increased their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp 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.