New York State Teachers Retirement System Sells 23,071 Shares of Fifth Third Bancorp (NASDAQ:FITB)

New York State Teachers Retirement System cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 593,760 shares of the financial services provider’s stock after selling 23,071 shares during the period. New York State Teachers Retirement System owned 0.09% of Fifth Third Bancorp worth $25,437,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC grew its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 312 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp in the second quarter valued at $34,000. Abich Financial Wealth Management LLC raised its holdings in shares of Fifth Third Bancorp by 1,787.3% in the third quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,269 shares during the last quarter. Centerpoint Advisors LLC lifted its position in Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in Fifth Third Bancorp during the 2nd quarter worth about $52,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Down 0.9 %

FITB opened at $43.68 on Friday. The company has a market cap of $29.56 billion, a P/E ratio of 14.51, a PEG ratio of 2.09 and a beta of 1.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $42.78 and its 200-day moving average is $39.60. Fifth Third Bancorp has a 1-year low of $23.17 and a 1-year high of $45.71.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the business earned $0.92 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts predict that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.37 per share. The ex-dividend date was Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.39%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 49.17%.

Analyst Ratings Changes

FITB has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada upped their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Argus boosted their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Barclays raised their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.28.

Fifth Third Bancorp Company 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.