Public Employees Retirement Association of Colorado Has $2.69 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Public Employees Retirement Association of Colorado lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,569 shares of the financial services provider’s stock after selling 5,434 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Fifth Third Bancorp were worth $2,688,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Fifth Third Bancorp by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock valued at $912,692,000 after purchasing an additional 812,385 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Fifth Third Bancorp by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider’s stock valued at $715,219,000 after buying an additional 285,910 shares in the last quarter. Boston Partners lifted its holdings in shares of Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock worth $597,692,000 after acquiring an additional 823,803 shares during the period. First Trust Advisors LP lifted its holdings in shares of Fifth Third Bancorp by 12.1% during the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider’s stock worth $402,991,000 after acquiring an additional 1,027,044 shares during the period. Finally, Norges Bank acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $371,836,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target for the company in a research note on Monday, April 7th. DA Davidson decreased their price target on Fifth Third Bancorp from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Barclays lowered their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Citigroup cut their price target on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.24.

Fifth Third Bancorp Stock Up 1.2 %

Shares of Fifth Third Bancorp stock opened at $36.16 on Wednesday. The business has a fifty day simple moving average of $37.93 and a 200 day simple moving average of $42.30. The stock has a market cap of $24.16 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The company had revenue of $2.14 billion during 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 earned $0.70 EPS. Research analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.37 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.09%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

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.