Teachers Retirement System of The State of Kentucky Increases Stake in Fifth Third Bancorp $FITB

Teachers Retirement System of The State of Kentucky lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 771,052 shares of the financial services provider’s stock after acquiring an additional 17,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Fifth Third Bancorp were worth $35,822,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. grew its holdings in Fifth Third Bancorp by 4.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 187 shares during the last quarter. Equitable Holdings Inc. lifted its stake in Fifth Third Bancorp by 4.1% in the fourth quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 195 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Fifth Third Bancorp by 3.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock valued at $322,000 after buying an additional 206 shares during the period. Keybank National Association OH boosted its position in shares of Fifth Third Bancorp by 0.3% during the fourth quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock valued at $3,015,000 after buying an additional 214 shares during the period. Finally, CreativeOne Wealth LLC grew its stake in shares of Fifth Third Bancorp by 1.9% during the fourth quarter. CreativeOne Wealth LLC now owns 11,652 shares of the financial services provider’s stock valued at $545,000 after buying an additional 216 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the transaction, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kevin J. Khanna sold 6,000 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the transaction, the executive vice president owned 76,299 shares in the company, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Wall Street Zen raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Wells Fargo & Company increased their target price on Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, UBS Group lifted their target price on Fifth Third Bancorp from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.11.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $57.12 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $51.77 billion, a PE ratio of 19.17, a P/E/G ratio of 1.09 and a beta of 0.90. The company has a 50 day moving average price of $52.24 and a 200-day moving average price of $50.29. Fifth Third Bancorp has a fifty-two week low of $40.04 and a fifty-two week high of $58.51.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.20. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same quarter in the prior year, the firm earned $0.71 earnings per share. As a group, equities analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Fifth Third Bancorp’s dividend payout ratio is presently 53.69%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.