Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 395,881 shares of the financial services provider’s stock after selling 28,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Fifth Third Bancorp were worth $16,738,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth $25,000. Venturi Wealth Management LLC raised its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after buying an additional 316 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $28,000. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $36,000. Finally, Y.D. More Investments Ltd raised its stake in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after buying an additional 449 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FITB. Truist Financial boosted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $42.88 on Friday. The business’s 50-day moving average price is $43.50 and its two-hundred day moving average price is $43.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a one year low of $33.03 and a one year high of $49.07. The company has a market capitalization of $28.75 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

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.