Fifth Third Bancorp (FITB) Holdings Lifted by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 94.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,970 shares of the financial services provider’s stock after buying an additional 32,570 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Fifth Third Bancorp were worth $1,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trust Department MB Financial Bank N A purchased a new stake in shares of Fifth Third Bancorp in the first quarter valued at about $10,833,000. Legal & General Group Plc lifted its holdings in shares of Fifth Third Bancorp by 4.1% in the third quarter. Legal & General Group Plc now owns 3,362,439 shares of the financial services provider’s stock valued at $93,883,000 after purchasing an additional 131,059 shares in the last quarter. Sanders Capital LLC lifted its holdings in shares of Fifth Third Bancorp by 59.6% in the fourth quarter. Sanders Capital LLC now owns 17,818,885 shares of the financial services provider’s stock valued at $468,179,000 after purchasing an additional 6,653,168 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Fifth Third Bancorp by 0.7% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,256,200 shares of the financial services provider’s stock valued at $29,558,000 after purchasing an additional 9,200 shares in the last quarter. Finally, Advisor Partners LLC lifted its holdings in shares of Fifth Third Bancorp by 14.4% in the fourth quarter. Advisor Partners LLC now owns 27,926 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 3,507 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Shares of FITB opened at $27.73 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97. The company has a market cap of $17.60 billion, a P/E ratio of 10.92, a PEG ratio of 1.26 and a beta of 1.32. Fifth Third Bancorp has a 1 year low of $22.12 and a 1 year high of $34.67.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. During the same quarter in the prior year, the firm posted $0.48 earnings per share. On average, equities analysts predict that Fifth Third Bancorp will post 2.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, March 28th. Fifth Third Bancorp’s payout ratio is 34.65%.

FITB has been the topic of several recent research reports. Stephens raised shares of Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 20th. Barclays reduced their price target on shares of Fifth Third Bancorp from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 2nd. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, January 8th. Citigroup raised shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and reduced their price target for the company from $37.00 to $29.00 in a report on Wednesday, January 9th. Finally, BidaskClub raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $31.31.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 26,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $26.37, for a total transaction of $685,620.00. Following the transaction, the executive vice president now owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

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About Fifth Third Bancorp

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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