Oregon Public Employees Retirement Fund Increases Stock Position in Fifth Third Bancorp $FITB

Oregon Public Employees Retirement Fund grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 31.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,699 shares of the financial services provider’s stock after purchasing an additional 18,120 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Fifth Third Bancorp were worth $3,372,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FITB. Tiemann Investment Advisors LLC increased its stake in Fifth Third Bancorp by 3.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 250 shares during the last quarter. CENTRAL TRUST Co increased its position in Fifth Third Bancorp by 4.1% in the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 260 shares during the last quarter. Harbour Investments Inc. raised its stake in Fifth Third Bancorp by 11.9% during the second quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 263 shares in the last quarter. Foster & Motley Inc. lifted its position in Fifth Third Bancorp by 1.7% during the third quarter. Foster & Motley Inc. now owns 15,981 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 265 shares during the last quarter. Finally, Trust Co. of Vermont increased its holdings in shares of Fifth Third Bancorp by 17.9% in the 3rd quarter. Trust Co. of Vermont now owns 1,761 shares of the financial services provider’s stock worth $78,000 after buying an additional 267 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Evan Bayh acquired 3,000 shares of the stock in a transaction on Monday, October 20th. The stock was bought at an average cost of $41.22 per share, with a total value of $123,660.00. Following the transaction, the director directly owned 84,942 shares in the company, valued at approximately $3,501,309.24. This represents a 3.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares in the company, valued at $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

FITB has been the subject of a number of analyst reports. Stephens increased their price target on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. UBS Group upgraded Fifth Third Bancorp from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, January 6th. Evercore ISI set a $52.00 price target on Fifth Third Bancorp in a report on Tuesday, January 6th. Barclays raised their price target on Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Royal Bank Of Canada boosted their price objective on shares of Fifth Third Bancorp from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Fifth Third Bancorp Price Performance

FITB opened at $49.27 on Monday. The business has a fifty day moving average of $45.41 and a 200 day moving average of $44.12. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $50.47. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The stock has a market cap of $32.57 billion, a P/E ratio of 14.71, a PEG ratio of 0.87 and a beta of 0.97.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The business had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.2%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.76%.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.