New York State Common Retirement Fund Sells 28,000 Shares of Fifth Third Bancorp (NASDAQ:FITB)

New York State Common Retirement Fund lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 395,881 shares of the financial services provider's stock after selling 28,000 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Fifth Third Bancorp worth $16,738,000 as of its most recent SEC filing.

Other hedge funds have also 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 valued at about $25,000. Venturi Wealth Management LLC raised its holdings 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 purchasing an additional 316 shares during the period. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new stake in Fifth Third Bancorp during the 3rd quarter valued at $36,000. Finally, Y.D. More Investments Ltd raised its holdings in Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 449 shares during the period. Institutional investors and hedge funds own 83.79% of the company's stock.

Insider Buying and Selling at Fifth Third Bancorp

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

Fifth Third Bancorp Stock Up 1.2 %

Shares of FITB traded up $0.52 on Monday, reaching $43.40. The stock had a trading volume of 1,913,456 shares, compared to its average volume of 4,519,100. The firm has a market capitalization of $29.10 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50-day simple moving average of $43.50 and a 200-day simple moving average of $43.67. Fifth Third Bancorp has a 12-month low of $33.03 and a 12-month high of $49.07.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp's payout ratio is 47.13%.

Wall Street Analyst Weigh In

FITB has been the topic of a number of analyst reports. Piper Sandler reissued an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Wells Fargo & Company boosted their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Citigroup upped their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Truist Financial upped their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $46.75.

About Fifth Third Bancorp

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.