Public Employees Retirement Association of Colorado Grows Position in Fifth Third Bancorp (FITB)

Public Employees Retirement Association of Colorado increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,619 shares of the financial services provider’s stock after buying an additional 3,094 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Fifth Third Bancorp were worth $4,115,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FITB. Sanders Capital LLC lifted its position in Fifth Third Bancorp by 1.1% in the fourth quarter. Sanders Capital LLC now owns 13,300,838 shares of the financial services provider’s stock valued at $428,100,000 after purchasing an additional 148,300 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Fifth Third Bancorp by 0.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock valued at $206,228,000 after purchasing an additional 68,086 shares during the period. Russell Investments Group Ltd. lifted its position in Fifth Third Bancorp by 3.0% in the third quarter. Russell Investments Group Ltd. now owns 4,083,708 shares of the financial services provider’s stock valued at $114,232,000 after purchasing an additional 118,177 shares during the period. Legal & General Group Plc lifted its position in Fifth Third Bancorp by 1.8% in the third quarter. Legal & General Group Plc now owns 3,942,017 shares of the financial services provider’s stock valued at $110,295,000 after purchasing an additional 71,404 shares during the period. Finally, Bank of Montreal Can lifted its position in Fifth Third Bancorp by 83.1% in the fourth quarter. Bank of Montreal Can now owns 3,058,088 shares of the financial services provider’s stock valued at $92,783,000 after purchasing an additional 1,388,121 shares during the period. 85.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Fifth Third Bancorp (FITB) opened at $31.98 on Friday. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $33.91. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a market cap of $22,187.88, a P/E ratio of 17.38, a PEG ratio of 2.09 and a beta of 1.36.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the company posted $0.49 EPS. sell-side analysts anticipate that Fifth Third Bancorp will post 2.28 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.00%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 22.46%.

In other news, SVP Mark D. Hazel sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $32.81, for a total transaction of $246,075.00. Following the completion of the transaction, the senior vice president now directly owns 62,254 shares of the company’s stock, valued at approximately $2,042,553.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

FITB has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “buy” rating on shares of Fifth Third Bancorp in a research report on Sunday, December 10th. BidaskClub upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Monday, January 8th. Vining Sparks reiterated a “buy” rating and set a $35.00 price target on shares of Fifth Third Bancorp in a research report on Sunday, January 28th. Finally, Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $30.70.

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Fifth Third Bancorp Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

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

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