Public Employees Retirement Association of Colorado Sells 20,120 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Public Employees Retirement Association of Colorado cut its position in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 21.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,033 shares of the financial services provider’s stock after selling 20,120 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Fifth Third Bancorp were worth $2,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC boosted its position in shares of Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $36,000. Financial Management Professionals Inc. boosted its position in shares of Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $48,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Fifth Third Bancorp by 83.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,532 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 695 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FITB. UBS Group reissued a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Stephens reissued an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Wolfe Research raised Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a report on Friday, May 31st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.86.

Read Our Latest Stock Analysis on Fifth Third Bancorp

Fifth Third Bancorp Stock Up 0.1 %

Fifth Third Bancorp stock opened at $36.13 on Friday. 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 has a fifty day moving average of $36.74 and a 200 day moving average of $34.88. The stock has a market cap of $24.71 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $39.14.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.27 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 44.44%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The disclosure for this sale can be found here. Insiders sold a total of 48,857 shares of company stock worth $1,787,638 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp 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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