35,002 Shares in Fifth Third Bancorp (NASDAQ:FITB) Acquired by Orca Wealth Management LLC

Orca Wealth Management LLC purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,002 shares of the financial services provider’s stock, valued at approximately $1,480,000. Fifth Third Bancorp comprises about 1.3% of Orca Wealth Management LLC’s investment portfolio, making the stock its 27th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth approximately $2,269,000. Pacer Advisors Inc. grew its position in shares of Fifth Third Bancorp by 43.0% during the fourth quarter. Pacer Advisors Inc. now owns 72,835 shares of the financial services provider’s stock worth $3,079,000 after acquiring an additional 21,895 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Fifth Third Bancorp by 33.9% during the fourth quarter. Blue Trust Inc. now owns 9,035 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 2,286 shares during the period. Stablepoint Partners LLC lifted its holdings in shares of Fifth Third Bancorp by 0.3% during the fourth quarter. Stablepoint Partners LLC now owns 108,960 shares of the financial services provider’s stock worth $4,607,000 after purchasing an additional 299 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings 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 worth $231,000 after purchasing an additional 246 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Down 0.4 %

Fifth Third Bancorp stock opened at $44.78 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.82. The stock has a market cap of $30.03 billion, a PE ratio of 14.26, a P/E/G ratio of 1.91 and a beta of 1.24. The stock has a 50-day moving average price of $44.69 and a 200 day moving average price of $43.22. 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Evercore ISI increased their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays raised their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Citigroup raised their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One 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 company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and a consensus 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.