New York State Common Retirement Fund Has $17.82 Million Holdings in Fifth Third Bancorp (NASDAQ:FITB)

New York State Common Retirement Fund decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 516,777 shares of the financial services provider's stock after selling 62,157 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Fifth Third Bancorp worth $17,824,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. GoalVest Advisory LLC boosted its holdings in Fifth Third Bancorp by 145.5% in the fourth 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 last quarter. Denali Advisors LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at $36,000. Financial Management Professionals Inc. boosted its holdings in Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 1,000 shares during the last quarter. Friedenthal Financial acquired a new position in Fifth Third Bancorp in the fourth quarter valued at $48,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Fifth Third Bancorp by 83.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,532 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 695 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

Shares of FITB traded up $0.10 during trading hours on Monday, reaching $37.00. 3,509,228 shares of the company traded hands, compared to its average volume of 5,377,483. The stock's fifty day moving average is $35.54 and its 200 day moving average is $32.32. The stock has a market cap of $25.20 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41.

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

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.78%. Fifth Third Bancorp's dividend payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

FITB has been the topic of several research reports. Evercore ISI raised their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an "in-line" rating in a research report on Thursday, March 28th. Morgan Stanley reissued an "equal weight" rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. UBS Group reissued a "neutral" rating and issued a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Robert W. Baird reissued a "neutral" rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $40.00 price objective (up from $39.00) on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $36.31.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the company'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 sale, the executive vice president now directly owns 139,422 shares of the company's stock, valued at $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares of the company's stock, valued at $5,072,172.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,357 shares of company stock valued at $1,693,888. 0.50% of the stock is currently owned by insiders.

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.