Fifth Third Bancorp (NASDAQ:FITB) Position Lowered by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,298,563 shares of the financial services provider's stock after selling 32,086 shares during the quarter. Fifth Third Bancorp comprises about 0.5% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 29th largest position. Teachers Retirement System of The State of Kentucky owned approximately 0.19% of Fifth Third Bancorp worth $54,903,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. World Investment Advisors LLC acquired a new position in Fifth Third Bancorp during the third quarter worth $263,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Fifth Third Bancorp during the 3rd quarter worth $191,000. Tidal Investments LLC increased its holdings in shares of Fifth Third Bancorp by 10.0% in the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider's stock valued at $1,069,000 after purchasing an additional 2,265 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Fifth Third Bancorp by 8.1% in the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock valued at $242,713,000 after purchasing an additional 409,292 shares during the period. Finally, 1ST Source Bank purchased a new stake in Fifth Third Bancorp during the third quarter worth about $211,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Fifth Third Bancorp Trading Down 1.2 %

Shares of NASDAQ FITB traded down $0.45 during trading on Friday, hitting $35.35. 1,843,091 shares of the company traded hands, compared to its average volume of 4,470,744. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $23.61 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a 50-day moving average price of $38.43 and a 200-day moving average price of $42.45. 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 business 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, equities analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.19%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 46.98%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday. 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. Robert W. Baird raised Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price on the stock in a report on Monday, April 7th. Wells Fargo & Company cut their price target on Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Barclays lowered their price objective on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.24.

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.