Fifth Third Bancorp $FITB Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 13.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,499 shares of the financial services provider’s stock after selling 14,022 shares during the quarter. Teacher Retirement System of Texas’ holdings in Fifth Third Bancorp were worth $3,898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FITB. Evolution Wealth Management Inc. purchased a new position in Fifth Third Bancorp in the 2nd quarter valued at approximately $26,000. Activest Wealth Management raised its stake in shares of Fifth Third Bancorp by 1,043.3% in the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 626 shares in the last quarter. GoalVest Advisory LLC boosted its holdings in Fifth Third Bancorp by 246.3% in the second quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 532 shares during the period. Legacy Investment Solutions LLC purchased a new position in Fifth Third Bancorp in the second quarter valued at $32,000. Finally, BankPlus Trust Department increased its holdings in Fifth Third Bancorp by 53.0% during the 2nd quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.7%

Shares of NASDAQ:FITB opened at $50.84 on Wednesday. The firm has a 50 day simple moving average of $47.21 and a 200-day simple moving average of $44.71. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $53.33. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $33.61 billion, a PE ratio of 14.36, a P/E/G ratio of 1.01 and a beta of 0.97.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The firm had revenue of $3.82 billion for the quarter. On average, equities analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.1%. Fifth Third Bancorp’s payout ratio is 45.20%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup lifted their price objective on Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fifth Third Bancorp in a report on Thursday, January 22nd. Morgan Stanley set a $60.00 price target on shares of Fifth Third Bancorp and gave the stock an “overweight” rating in a report on Tuesday, October 7th. DA Davidson raised their price objective on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group lifted their price objective on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.21.

Fifth Third Bancorp 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.