Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,739 shares of the financial services provider’s stock after purchasing an additional 531 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Fifth Third Bancorp were worth $2,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after buying an additional 734,403 shares during the period. Capital World Investors boosted its position in shares of Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after purchasing an additional 5,512,333 shares during the period. Boston Partners increased its holdings in Fifth Third Bancorp by 11.5% in the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock valued at $502,719,000 after purchasing an additional 1,499,194 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Fifth Third Bancorp by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,247,695 shares of the financial services provider’s stock valued at $318,979,000 after purchasing an additional 393,489 shares during the period. Finally, Norges Bank acquired a new position in Fifth Third Bancorp during the fourth quarter worth $257,189,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the completion of the sale, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The disclosure for this sale can be found here. Insiders sold a total of 54,500 shares of company stock valued at $2,269,920 over the last ninety days. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Down 2.4 %

FITB opened at $40.69 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $42.91. The company has a market cap of $27.83 billion, a P/E ratio of 12.92, a PEG ratio of 2.01 and a beta of 1.22. The business’s 50-day simple moving average is $40.12 and its 200-day simple moving average is $37.57.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the company earned $0.87 earnings per share. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 3.44%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Analysts Set New Price Targets

Several research firms recently issued reports on FITB. Stephens reiterated an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Jefferies Financial Group increased their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Wolfe Research upgraded shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a report on Friday, May 31st. Finally, StockNews.com upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.56.

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.