Public Employees Retirement System of Ohio Sells 22,616 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Public Employees Retirement System of Ohio lessened its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 309,308 shares of the financial services provider's stock after selling 22,616 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Fifth Third Bancorp were worth $13,078,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Boston Partners grew its stake in Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after purchasing an additional 823,803 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Fifth Third Bancorp by 27.3% in the 4th quarter. Deutsche Bank AG now owns 2,046,701 shares of the financial services provider's stock worth $86,535,000 after purchasing an additional 438,446 shares during the last quarter. AMJ Financial Wealth Management boosted its position in Fifth Third Bancorp by 4.2% during the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock valued at $9,843,000 after purchasing an additional 9,401 shares during the period. Banco Santander S.A. bought a new position in Fifth Third Bancorp during the 4th quarter worth $357,000. Finally, Lockheed Martin Investment Management Co. bought a new position in Fifth Third Bancorp during the 4th quarter worth $9,878,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Stock Up 2.5%

NASDAQ:FITB traded up $0.94 on Tuesday, hitting $38.14. 3,783,299 shares of the company's stock traded hands, compared to its average volume of 4,503,113. The firm has a 50-day moving average price of $36.84 and a 200-day moving average price of $41.41. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a market cap of $25.46 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating 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 net margin of 17.43% and a return on equity of 14.10%. During the same quarter in the prior year, the business earned $0.70 EPS. Equities analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.88%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of 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. Stephens reissued an "equal weight" rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price target on the stock in a research note on Monday, April 7th. TD Cowen began coverage on Fifth Third Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $52.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price target on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $46.78.

Fifth Third Bancorp Company Profile

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.