Kingsview Wealth Management LLC Acquires 5,366 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Kingsview Wealth Management LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 46.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,825 shares of the financial services provider’s stock after buying an additional 5,366 shares during the period. Kingsview Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $711,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Boston Common Asset Management LLC increased its position in Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after acquiring an additional 34,203 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the period. Lockheed Martin Investment Management Co. acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $9,878,000. Mirae Asset Global Investments Co. Ltd. grew its position in Fifth Third Bancorp by 13.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock worth $19,776,000 after buying an additional 55,081 shares in the last quarter. Finally, Smith Group Asset Management LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at about $423,000. 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 $43.43 on Thursday. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The firm has a market cap of $29.12 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.44 and a beta of 1.23. 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 business’s fifty day moving average is $43.91 and its two-hundred day moving average is $43.49.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.41%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Wall Street Analyst Weigh In

A number of brokerages have commented on FITB. DA Davidson raised their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Citigroup raised their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company 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.