South Dakota Investment Council Has $751,000 Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

South Dakota Investment Council trimmed its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 87.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,788 shares of the financial services provider's stock after selling 158,994 shares during the period. South Dakota Investment Council's holdings in Fifth Third Bancorp were worth $751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GoalVest Advisory LLC lifted its position in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 560 shares during the period. Denali Advisors LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $36,000. Financial Management Professionals Inc. grew its stake in Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider's stock worth $38,000 after acquiring an additional 1,000 shares during the period. Authentikos Wealth Advisory LLC purchased a new stake in Fifth Third Bancorp in the 3rd quarter worth approximately $46,000. Finally, Friedenthal Financial purchased a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $48,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 0.2 %

FITB stock traded up $0.08 during trading on Friday, reaching $36.90. The stock had a trading volume of 2,474,529 shares, compared to its average volume of 5,400,542. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $25.13 billion, a P/E ratio of 11.69, a PEG ratio of 1.41 and a beta of 1.27. The firm has a fifty day moving average price of $35.48 and a 200 day moving average price of $32.13.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the previous year, the business posted $0.78 EPS. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.2 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp's payout ratio is currently 44.44%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kala Gibson sold 14,857 shares of the business's stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company's stock, valued at approximately $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jude Schramm sold 5,000 shares of the business's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares of the company's stock, valued at approximately $5,072,172.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kala Gibson sold 14,857 shares of the business's stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now directly owns 46,646 shares of the company's stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,357 shares of company stock valued at $1,693,888. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Stephens reiterated an "equal weight" rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Monday, January 22nd. Morgan Stanley reiterated an "equal weight" rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a report on Monday. Finally, DA Davidson lifted their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a "neutral" rating in a report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $36.31.

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.