Public Employees Retirement Association of Colorado Sells 1,619 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Public Employees Retirement Association of Colorado decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,414 shares of the financial services provider’s stock after selling 1,619 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Fifth Third Bancorp were worth $2,657,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FITB. BOKF NA lifted its holdings in Fifth Third Bancorp by 2,563.3% during the first quarter. BOKF NA now owns 43,492 shares of the financial services provider’s stock valued at $1,596,000 after purchasing an additional 41,859 shares during the last quarter. Capital World Investors grew its stake in Fifth Third Bancorp by 13.4% in the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after buying an additional 5,512,333 shares in the last quarter. Capital International Sarl purchased a new stake in Fifth Third Bancorp during the 1st quarter worth about $245,000. Capital International Inc. CA lifted its holdings in shares of Fifth Third Bancorp by 22.4% in the first quarter. Capital International Inc. CA now owns 60,018 shares of the financial services provider’s stock worth $2,233,000 after buying an additional 10,981 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Fifth Third Bancorp by 20.5% during the first quarter. EP Wealth Advisors LLC now owns 9,044 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 1,539 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the sale, the executive vice president now owns 134,422 shares in the company, valued at $5,376,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the sale, the executive vice president now owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The disclosure for this sale can be found here. Insiders sold 37,000 shares of company stock worth $1,523,670 over the last three months. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Trading Down 0.2 %

FITB opened at $41.91 on Tuesday. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $42.53. The stock has a market cap of $28.67 billion, a PE ratio of 13.33, a PEG ratio of 1.99 and a beta of 1.24. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average of $37.47 and a 200-day moving average of $36.22.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the business posted $0.87 EPS. Equities research analysts predict that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, June 28th. Fifth Third Bancorp’s payout ratio is presently 44.44%.

Wall Street Analyst Weigh In

FITB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. UBS Group reissued a “neutral” rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Evercore ISI dropped their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. Robert W. Baird reiterated a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Finally, DA Davidson boosted their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine 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 target price of $40.15.

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.