Teacher Retirement System of Texas Invests $268,000 in Fifth Third Bancorp (NASDAQ:FITB)

Teacher Retirement System of Texas acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,334 shares of the financial services provider’s stock, valued at approximately $268,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FITB. FMR LLC lifted its stake in Fifth Third Bancorp by 5.7% in the 3rd quarter. FMR LLC now owns 1,692,599 shares of the financial services provider’s stock valued at $72,511,000 after purchasing an additional 91,574 shares during the last quarter. Townsquare Capital LLC bought a new position in shares of Fifth Third Bancorp in the 3rd quarter valued at $804,000. CreativeOne Wealth LLC bought a new position in shares of Fifth Third Bancorp in the 3rd quarter valued at $271,000. Captrust Financial Advisors grew its position in Fifth Third Bancorp by 0.6% during the 3rd quarter. Captrust Financial Advisors now owns 144,114 shares of the financial services provider’s stock worth $6,174,000 after acquiring an additional 887 shares during the last quarter. Finally, Paloma Partners Management Co increased its holdings in Fifth Third Bancorp by 201.6% in the 3rd quarter. Paloma Partners Management Co now owns 14,400 shares of the financial services provider’s stock worth $617,000 after purchasing an additional 28,567 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Fifth Third Bancorp Trading Down 0.7 %

Shares of FITB stock opened at $38.93 on Wednesday. The company has a market cap of $26.01 billion, a P/E ratio of 12.40, a PEG ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The stock has a 50 day simple moving average of $41.96 and a two-hundred day simple moving average of $43.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.80%. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of recent research reports. DA Davidson lifted their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Stephens restated 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. Wells Fargo & Company cut their price target on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and an average price target of $47.50.

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.