Teachers Retirement System of The State of Kentucky Has $57.01 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Teachers Retirement System of The State of Kentucky increased its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 76.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,330,649 shares of the financial services provider's stock after acquiring an additional 575,449 shares during the quarter. Fifth Third Bancorp makes up 0.5% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 26th largest holding. Teachers Retirement System of The State of Kentucky owned about 0.20% of Fifth Third Bancorp worth $57,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC lifted its position 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 valued at $29,000 after acquiring an additional 316 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of Fifth Third Bancorp in the second quarter valued at $34,000. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the third quarter worth $36,000. Hexagon Capital Partners LLC grew its holdings in shares of Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after buying an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Fifth Third Bancorp during the third quarter valued at $39,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FITB. Keefe, Bruyette & Woods lifted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Evercore ISI increased their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 2nd. Barclays upped their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Finally, Morgan Stanley lifted their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, September 30th. One equities research 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, Fifth Third Bancorp has an average rating of "Hold" and a consensus price target of $44.81.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB traded down $0.57 during trading hours on Wednesday, hitting $45.82. 6,975,356 shares of the company's stock were exchanged, compared to its average volume of 4,536,324. The company's 50-day moving average price is $45.32 and its 200-day moving average price is $41.52. Fifth Third Bancorp has a 1-year low of $30.47 and a 1-year high of $49.07. The stock has a market capitalization of $30.72 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 2.26 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 analysts' consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. On average, sell-side analysts expect that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.23%. Fifth Third Bancorp's dividend payout ratio is 49.17%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company's stock.

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.