Teachers Retirement System of The State of Kentucky Lowers Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Teachers Retirement System of The State of Kentucky decreased its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,298,563 shares of the financial services provider's stock after selling 32,086 shares during the period. Fifth Third Bancorp makes up 0.5% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 29th biggest holding. Teachers Retirement System of The State of Kentucky owned about 0.19% of Fifth Third Bancorp worth $54,903,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MML Investors Services LLC lifted its position in shares of Fifth Third Bancorp by 6.4% during the 4th quarter. MML Investors Services LLC now owns 173,704 shares of the financial services provider's stock valued at $7,344,000 after acquiring an additional 10,478 shares during the period. MetLife Investment Management LLC increased its stake in Fifth Third Bancorp by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 177,564 shares of the financial services provider's stock valued at $7,507,000 after purchasing an additional 1,477 shares in the last quarter. Norinchukin Bank The raised its holdings in shares of Fifth Third Bancorp by 7.4% during the fourth quarter. Norinchukin Bank The now owns 29,577 shares of the financial services provider's stock valued at $1,251,000 after purchasing an additional 2,038 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Fifth Third Bancorp by 316.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,684 shares of the financial services provider's stock worth $1,762,000 after purchasing an additional 31,664 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Fifth Third Bancorp by 12.1% in the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock valued at $402,991,000 after buying an additional 1,027,044 shares during the period. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded up $0.43 during trading hours on Wednesday, reaching $35.08. 7,490,034 shares of the company were exchanged, compared to its average volume of 4,481,238. The stock has a market capitalization of $23.43 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The business's 50 day simple moving average is $38.60 and its 200-day simple moving average is $42.50.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the business posted $0.70 EPS. On average, equities research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.22%. Fifth Third Bancorp's payout ratio is 46.98%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their price target on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a research note on Monday. Citigroup cut their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Stephens reissued an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Morgan Stanley decreased their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.24.

Insider Buying and Selling

In related news, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.