Unison Advisors LLC Boosts Stock Position in Fifth Third Bancorp $FITB

Unison Advisors LLC raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,498 shares of the financial services provider’s stock after purchasing an additional 1,113 shares during the period. Fifth Third Bancorp accounts for approximately 0.5% of Unison Advisors LLC’s investment portfolio, making the stock its 28th largest holding. Unison Advisors LLC’s holdings in Fifth Third Bancorp were worth $4,337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cidel Asset Management Inc. purchased a new position in Fifth Third Bancorp in the second quarter valued at about $209,000. Chicago Partners Investment Group LLC grew its stake in Fifth Third Bancorp by 7.5% in the second quarter. Chicago Partners Investment Group LLC now owns 6,804 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 474 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in Fifth Third Bancorp by 5.1% in the second quarter. Koshinski Asset Management Inc. now owns 7,692 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 372 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its stake in shares of Fifth Third Bancorp by 0.4% during the second quarter. Chevy Chase Trust Holdings LLC now owns 352,924 shares of the financial services provider’s stock worth $14,516,000 after acquiring an additional 1,258 shares during the last quarter. Finally, Angeles Wealth Management LLC purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth about $258,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 1.3%

Fifth Third Bancorp stock opened at $40.89 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The company has a market capitalization of $27.06 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.11 and a beta of 0.95. The stock has a 50-day moving average price of $44.29 and a 200 day moving average price of $40.85.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 30th. Fifth Third Bancorp’s dividend payout ratio is presently 47.76%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FITB. Piper Sandler dropped their price target on Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Argus boosted their price target on Fifth Third Bancorp from $46.00 to $49.00 in a research note on Tuesday, October 7th. Morgan Stanley set a $60.00 price target on Fifth Third Bancorp and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Stephens set a $52.00 price target on Fifth Third Bancorp and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Finally, UBS Group boosted their price target on Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.35.

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.