South Dakota Investment Council Decreases Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

South Dakota Investment Council lowered its position in Fifth Third Bancorp (NASDAQ:FITB) by 87.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,788 shares of the financial services provider’s stock after selling 158,994 shares during the period. South Dakota Investment Council’s holdings in Fifth Third Bancorp were worth $751,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GoalVest Advisory LLC grew its stake in Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after buying an additional 560 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $36,000. Financial Management Professionals Inc. raised its position in shares of Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares during the last quarter. Authentikos Wealth Advisory LLC acquired a new stake in Fifth Third Bancorp in the 3rd quarter worth approximately $46,000. Finally, Friedenthal Financial purchased a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $48,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $36.82 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $25.08 billion, a PE ratio of 11.69, a PEG ratio of 1.41 and a beta of 1.27. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.41. The firm has a fifty day moving average of $35.48 and a 200 day moving average of $32.13.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, research analysts predict that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Insider Buying and Selling

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

Analysts Set New Price Targets

FITB has been the subject of several research reports. Robert W. Baird reiterated a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. 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 report on Thursday, April 4th. DA Davidson lifted their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada increased their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.31.

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.