New York State Common Retirement Fund Has $18.16 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

New York State Common Retirement Fund trimmed its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 423,881 shares of the financial services provider's stock after selling 53,000 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Fifth Third Bancorp worth $18,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new position in Fifth Third Bancorp during the second quarter valued at approximately $34,000. Hexagon Capital Partners LLC raised its stake 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 buying an additional 312 shares during the period. Family Firm Inc. bought a new position in Fifth Third Bancorp during the second quarter worth about $52,000. Abich Financial Wealth Management LLC grew its stake 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 valued at $57,000 after acquiring an additional 1,269 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Fifth Third Bancorp by 130.6% in the second quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider's stock worth $60,000 after acquiring an additional 914 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB traded up $3.71 on Wednesday, hitting $46.87. The company had a trading volume of 11,547,892 shares, compared to its average volume of 4,643,521. The stock has a 50 day moving average price of $42.85 and a 200 day moving average price of $39.84. 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 stock has a market cap of $31.72 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 2.07 and a beta of 1.21. Fifth Third Bancorp has a 1-year low of $24.64 and a 1-year high of $46.90.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) 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). The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. Analysts expect that Fifth Third Bancorp will post 3.33 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.37 per share. This is a boost from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.16%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 49.17%.

Insider Transactions at Fifth Third Bancorp

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

Analyst Upgrades and Downgrades

FITB has been the topic of several research reports. Royal Bank of Canada boosted their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, July 22nd. Evercore ISI lifted 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 research note on Wednesday, October 2nd. StockNews.com cut shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday. Morgan Stanley lifted their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Finally, Barclays increased their price target on 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of "Hold" and a consensus 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.