Teachers Retirement System of The State of Kentucky Sells 545,800 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Teachers Retirement System of The State of Kentucky cut its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 42.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 752,763 shares of the financial services provider's stock after selling 545,800 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.11% of Fifth Third Bancorp worth $29,508,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FITB. Deutsche Bank AG grew its stake in Fifth Third Bancorp by 27.3% during the fourth quarter. Deutsche Bank AG now owns 2,046,701 shares of the financial services provider's stock worth $86,535,000 after buying an additional 438,446 shares in the last quarter. Principal Financial Group Inc. grew its stake in Fifth Third Bancorp by 1.6% during the first quarter. Principal Financial Group Inc. now owns 818,564 shares of the financial services provider's stock worth $32,088,000 after buying an additional 12,905 shares in the last quarter. Heartland Bank & Trust Co acquired a new stake in Fifth Third Bancorp during the first quarter worth about $1,011,000. U.S. Capital Wealth Advisors LLC grew its stake in Fifth Third Bancorp by 49.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 47,392 shares of the financial services provider's stock worth $1,858,000 after buying an additional 15,692 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Fifth Third Bancorp by 1,448.6% during the first quarter. Teacher Retirement System of Texas now owns 98,088 shares of the financial services provider's stock worth $3,845,000 after buying an additional 91,754 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FITB. DA Davidson upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $42.00 to $47.00 in a research report on Monday, June 9th. Jefferies Financial Group began coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 21st. They set a "buy" rating and a $47.00 target price on the stock. Barclays cut their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of "Moderate Buy" and a consensus target price of $47.53.

Fifth Third Bancorp Trading Up 1.0%

Shares of FITB opened at $43.03 on Friday. The business's 50-day moving average price is $40.21 and its 200-day moving average price is $40.08. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The stock has a market cap of $28.72 billion, a PE ratio of 13.36, a P/E/G ratio of 1.40 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.76.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.17 billion. Fifth Third Bancorp had a net margin of 17.97% and a return on equity of 13.31%. During the same period in the prior year, the business earned $0.70 earnings per share. On average, equities analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp announced that its Board of Directors has authorized a share buyback program on Monday, June 16th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Monday, June 30th. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 45.96%.

Fifth Third Bancorp 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.

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