New York State Teachers Retirement System Has $25.44 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

New York State Teachers Retirement System trimmed its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 593,760 shares of the financial services provider's stock after selling 23,071 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Fifth Third Bancorp worth $25,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Abich Financial Wealth Management LLC increased its position in 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 worth $57,000 after buying an additional 1,269 shares during the period. Richardson Financial Services Inc. increased its holdings in shares of Fifth Third Bancorp by 10.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 8,474 shares of the financial services provider's stock worth $363,000 after acquiring an additional 768 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Fifth Third Bancorp by 0.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 144,408 shares of the financial services provider's stock valued at $6,186,000 after purchasing an additional 993 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Fifth Third Bancorp by 13.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider's stock valued at $19,776,000 after purchasing an additional 55,081 shares during the period. Finally, Ballentine Partners LLC grew its position in Fifth Third Bancorp by 5.4% in the 3rd quarter. Ballentine Partners LLC now owns 14,806 shares of the financial services provider's stock worth $634,000 after purchasing an additional 756 shares during the last quarter. Institutional investors own 83.79% of the company's stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday. Bank of America increased their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. Royal Bank of Canada increased their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an "outperform" rating in a report on Monday, July 22nd. Finally, Argus boosted their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $42.28.

Fifth Third Bancorp Trading Down 1.2 %

NASDAQ FITB traded down $0.54 on Friday, hitting $43.14. 5,776,850 shares of the company were exchanged, compared to its average volume of 4,618,157. Fifth Third Bancorp has a twelve month low of $24.02 and a twelve month high of $45.71. The company's 50 day moving average price is $42.78 and its 200-day moving average price is $39.60. The firm has a market capitalization of $29.20 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 2.11 and a beta of 1.22. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter last year, the company posted $0.92 EPS. The firm's revenue was up 1.2% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.37 dividend. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp's dividend payout ratio is currently 49.17%.

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.