Public Employees Retirement Association of Colorado Reduces Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Public Employees Retirement Association of Colorado lessened its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,003 shares of the financial services provider’s stock after selling 2,411 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Fifth Third Bancorp were worth $2,518,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FITB. Vanguard Group Inc. increased its position in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock valued at $3,012,472,000 after acquiring an additional 734,403 shares during the last quarter. Capital World Investors raised its position in Fifth Third Bancorp by 13.4% in the first quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after purchasing an additional 5,512,333 shares during the period. Dimensional Fund Advisors LP lifted its stake in Fifth Third Bancorp by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock worth $356,031,000 after purchasing an additional 281,494 shares in the last quarter. LSV Asset Management boosted its position in shares of Fifth Third Bancorp by 2.3% during the first quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock worth $165,015,000 after buying an additional 99,593 shares during the period. Finally, KBC Group NV grew its stake in shares of Fifth Third Bancorp by 341.8% in the fourth quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock valued at $66,521,000 after buying an additional 1,492,124 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at $4,805,724. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the sale, the director now owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The disclosure for this sale can be found here. Insiders have sold 54,500 shares of company stock worth $2,269,920 in the last quarter. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $42.84 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $43.85. The firm’s 50 day moving average is $41.24 and its two-hundred day moving average is $38.22. The firm has a market capitalization of $29.30 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.93 and a beta of 1.22.

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

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.37 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 46.98%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FITB shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Bank of America upped their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada upped their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Stephens reiterated an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $41.16.

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.