Fifth Third Bancorp (FITB) Shares Sold by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 324,653 shares of the financial services provider’s stock after selling 18,227 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Fifth Third Bancorp were worth $9,318,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Bartlett & Co. LLC raised its stake in Fifth Third Bancorp by 556.7% during the 2nd quarter. Bartlett & Co. LLC now owns 72,446 shares of the financial services provider’s stock worth $2,079,000 after buying an additional 61,414 shares during the period. GAM Holding AG raised its stake in shares of Fifth Third Bancorp by 151.8% in the 2nd quarter. GAM Holding AG now owns 29,719 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 17,916 shares during the period. CIBC World Markets Inc. raised its stake in shares of Fifth Third Bancorp by 102.9% in the 2nd quarter. CIBC World Markets Inc. now owns 162,268 shares of the financial services provider’s stock valued at $4,657,000 after purchasing an additional 82,298 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Fifth Third Bancorp by 1.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 420,191 shares of the financial services provider’s stock valued at $12,059,000 after purchasing an additional 4,155 shares during the period. Finally, Thomas White International Ltd. acquired a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $390,000. 83.86% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on FITB shares. Argus started coverage on Fifth Third Bancorp in a research note on Thursday, June 14th. They issued a “buy” rating and a $36.00 price target on the stock. Zacks Investment Research downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 26th. BidaskClub downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 30th. Vining Sparks reissued a “buy” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a research note on Thursday, July 19th. Finally, Wedbush dropped their price target on Fifth Third Bancorp from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, July 20th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $32.39.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Fifth Third Bancorp had a return on equity of 11.12% and a net margin of 32.86%. During the same quarter last year, the company earned $0.45 EPS. sell-side analysts forecast that Fifth Third Bancorp will post 2.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, September 27th. Fifth Third Bancorp’s payout ratio is 26.87%.
Fifth Third Bancorp Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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