Teachers Retirement System of The State of Kentucky Boosts Holdings in Fifth Third Bancorp $FITB

Teachers Retirement System of The State of Kentucky grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 771,052 shares of the financial services provider’s stock after acquiring an additional 17,500 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.09% of Fifth Third Bancorp worth $35,822,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Global Assets Advisory LLC purchased a new stake in Fifth Third Bancorp in the first quarter worth about $38,000. International Assets Investment Management LLC lifted its position in shares of Fifth Third Bancorp by 8.5% during the 1st quarter. International Assets Investment Management LLC now owns 35,732 shares of the financial services provider’s stock valued at $1,660,000 after buying an additional 2,789 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of Fifth Third Bancorp by 2,000.0% during the 1st quarter. Anchor Investment Management LLC now owns 4,200 shares of the financial services provider’s stock valued at $195,000 after buying an additional 4,000 shares in the last quarter. Castleview Partners LLC grew its stake in shares of Fifth Third Bancorp by 12.8% during the 1st quarter. Castleview Partners LLC now owns 7,500 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 850 shares during the period. Finally, Valmark Advisers Inc. grew its stake in shares of Fifth Third Bancorp by 4.2% during the 1st quarter. Valmark Advisers Inc. now owns 18,781 shares of the financial services provider’s stock valued at $873,000 after acquiring an additional 765 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FITB shares. Zacks Research cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Jefferies Financial Group upped their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Wall Street Zen raised shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. DA Davidson restated a “buy” rating and set a $58.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 20th. Finally, Evercore set a $60.00 target price on shares of Fifth Third Bancorp in a research note on Monday, July 6th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $59.11.

Fifth Third Bancorp Stock Up 0.1%

NASDAQ FITB opened at $57.12 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $51.77 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.09 and a beta of 0.90. Fifth Third Bancorp has a one year low of $40.04 and a one year high of $58.51. The stock has a 50 day moving average price of $52.24 and a 200-day moving average price of $50.29.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Fifth Third Bancorp’s payout ratio is 53.69%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the sale, the executive vice president directly owned 189,382 shares in the company, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the transaction, the executive vice president directly owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.51% of the company’s stock.

About Fifth Third Bancorp

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.