New York State Common Retirement Fund Sells 62,157 Shares of Fifth Third Bancorp (NASDAQ:FITB)

New York State Common Retirement Fund cut its stake in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 516,777 shares of the financial services provider’s stock after selling 62,157 shares during the quarter. New York State Common Retirement Fund’s holdings in Fifth Third Bancorp were worth $17,824,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Boston Partners lifted its position in shares of Fifth Third Bancorp by 32.1% during the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock worth $331,188,000 after purchasing an additional 3,176,903 shares during the last quarter. Smead Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $67,354,000. Invesco Ltd. raised its holdings in shares of Fifth Third Bancorp by 8.4% in the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after acquiring an additional 1,500,653 shares in the last quarter. Barclays PLC raised its holdings in shares of Fifth Third Bancorp by 66.0% in the third quarter. Barclays PLC now owns 2,307,073 shares of the financial services provider’s stock valued at $58,437,000 after acquiring an additional 917,549 shares in the last quarter. Finally, Kettle Hill Capital Management LLC bought a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $12,625,000. 83.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Insiders sold 46,357 shares of company stock valued at $1,693,888 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FITB shares. Stephens restated an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Barclays lifted their price objective on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Evercore ISI lifted their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Finally, Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $36.31.

View Our Latest Analysis on FITB

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $36.90 on Monday. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.41. The firm has a market capitalization of $25.13 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $35.54 and its 200-day simple moving average is $32.32.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, equities analysts forecast that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Fifth Third Bancorp Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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