Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.9% during the 4th quarter, Holdings Channel reports. The firm owned 1,255,396 shares of the financial services provider’s stock after selling 50,558 shares during the quarter. California Public Employees Retirement System’s holdings in Fifth Third Bancorp were worth $43,299,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its stake in shares of Fifth Third Bancorp by 6.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock worth $2,110,000 after acquiring an additional 3,476 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Fifth Third Bancorp by 57.5% in the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after acquiring an additional 269,152 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Fifth Third Bancorp by 11.7% in the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock worth $22,805,000 after acquiring an additional 69,273 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Fifth Third Bancorp by 48.0% in the fourth quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock worth $12,102,000 after acquiring an additional 113,838 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Fifth Third Bancorp by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after buying an additional 393,937 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FITB has been the topic of a number of analyst reports. Barclays lifted their price objective on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. UBS Group reiterated a “neutral” rating and set a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Royal Bank of Canada lifted their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. Finally, DA Davidson lifted their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.31.

Insider Buying and Selling

In related news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders sold 46,357 shares of company stock valued at $1,693,888 in the last three months. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Price Performance

FITB stock opened at $36.90 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $25.13 billion, a PE ratio of 11.71, a P/E/G ratio of 1.41 and a beta of 1.27. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.41. The business’s fifty day moving average price is $35.54 and its 200 day moving average price is $32.22.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the business earned $0.78 EPS. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.79%. Fifth Third Bancorp’s payout ratio is 44.44%.

Fifth Third Bancorp 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.