New York State Common Retirement Fund Has $20.72 Million Stock Position in Fifth Third Bancorp $FITB

New York State Common Retirement Fund boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 15.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 464,981 shares of the financial services provider’s stock after buying an additional 62,300 shares during the quarter. New York State Common Retirement Fund owned approximately 0.07% of Fifth Third Bancorp worth $20,715,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FITB. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Fifth Third Bancorp by 2.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 705,362 shares of the financial services provider’s stock valued at $31,424,000 after purchasing an additional 19,861 shares in the last quarter. Ballentine Partners LLC boosted its position in Fifth Third Bancorp by 2.7% in the third quarter. Ballentine Partners LLC now owns 24,164 shares of the financial services provider’s stock valued at $1,077,000 after buying an additional 641 shares in the last quarter. Truist Financial Corp grew its stake in shares of Fifth Third Bancorp by 2.2% during the third quarter. Truist Financial Corp now owns 300,760 shares of the financial services provider’s stock worth $13,399,000 after buying an additional 6,395 shares during the last quarter. Stablepoint Partners LLC increased its holdings in shares of Fifth Third Bancorp by 2.0% during the third quarter. Stablepoint Partners LLC now owns 108,937 shares of the financial services provider’s stock worth $4,853,000 after buying an additional 2,122 shares in the last quarter. Finally, Clark Financial Services Group Inc. BD lifted its stake in shares of Fifth Third Bancorp by 13.3% in the 3rd quarter. Clark Financial Services Group Inc. BD now owns 6,843 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 803 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 0.9%

Shares of FITB stock opened at $50.22 on Friday. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $53.33. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50 day simple moving average of $47.70 and a two-hundred day simple moving average of $44.84. The company has a market cap of $33.20 billion, a P/E ratio of 14.19, a PEG ratio of 1.00 and a beta of 0.97.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The company had revenue of $3.82 billion during the quarter. Research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is 45.20%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president directly owned 129,191 shares of the company’s stock, valued at $6,265,763.50. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FITB shares. Wall Street Zen raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays boosted their target price on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Royal Bank Of Canada raised their price target on shares of Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Evercore ISI set a $52.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fifth Third Bancorp in a report on Thursday, January 22nd. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average target price of $56.21.

Fifth Third Bancorp Company 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.