Kentucky Retirement Systems Insurance Trust Fund Has $1.32 Million Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Kentucky Retirement Systems Insurance Trust Fund increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 56.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,264 shares of the financial services provider’s stock after purchasing an additional 11,226 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Fifth Third Bancorp were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after buying an additional 732,651 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after buying an additional 409,292 shares during the last quarter. Smead Capital Management Inc. boosted its stake in shares of Fifth Third Bancorp by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock worth $95,278,000 after buying an additional 75,024 shares during the last quarter. Zacks Investment Management boosted its stake in shares of Fifth Third Bancorp by 10.0% during the 3rd quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock worth $74,450,000 after buying an additional 158,067 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Fifth Third Bancorp by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,731,656 shares of the financial services provider’s stock worth $74,184,000 after buying an additional 19,572 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Piper Sandler restated an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Barclays upped their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup upped their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp Stock Up 0.9 %

Shares of FITB opened at $44.46 on Wednesday. Fifth Third Bancorp has a 12 month low of $33.03 and a 12 month high of $49.07. The firm’s 50 day moving average is $43.66 and its 200-day moving average is $43.54. The stock has a market capitalization of $29.81 billion, a PE ratio of 14.16, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.33%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

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.