California State Teachers Retirement System Reduces Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

California State Teachers Retirement System cut its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 900,279 shares of the financial services provider's stock after selling 149,276 shares during the quarter. California State Teachers Retirement System owned 0.13% of Fifth Third Bancorp worth $38,064,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FITB. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp during the fourth quarter worth $29,000. Quarry LP acquired a new position in Fifth Third Bancorp during the fourth quarter worth $29,000. Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the fourth quarter worth $33,000. Finally, REAP Financial Group LLC raised its holdings in Fifth Third Bancorp by 161.8% during the fourth quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock worth $33,000 after purchasing an additional 487 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 0.3%

Fifth Third Bancorp stock traded down $0.11 during midday trading on Monday, hitting $38.08. 4,198,777 shares of the company were exchanged, compared to its average volume of 4,502,672. The company's fifty day moving average price is $36.69 and its 200-day moving average price is $41.12. The company has a market cap of $25.42 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same period in the previous year, the company posted $0.70 EPS. On average, research analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.89%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FITB shares. Morgan Stanley reduced their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. DA Davidson reduced their price objective on Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Stephens reaffirmed an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. TD Cowen started coverage on Fifth Third Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $52.00 price objective for the company. Finally, Keefe, Bruyette & Woods reduced their price objective on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.00.

About Fifth Third Bancorp

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.