Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,711 shares of the financial services provider’s stock after buying an additional 1,061 shares during the period. Maryland State Retirement & Pension System’s holdings in Fifth Third Bancorp were worth $2,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Strategy Asset Managers LLC acquired a new stake in shares of Fifth Third Bancorp during the first quarter worth about $344,000. Sound Income Strategies LLC boosted its stake in shares of Fifth Third Bancorp by 59.2% during the first quarter. Sound Income Strategies LLC now owns 1,345 shares of the financial services provider’s stock worth $58,000 after buying an additional 500 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Fifth Third Bancorp by 6.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 51,969 shares of the financial services provider’s stock valued at $2,237,000 after purchasing an additional 3,058 shares during the period. DNB Asset Management AS lifted its position in Fifth Third Bancorp by 5.4% in the first quarter. DNB Asset Management AS now owns 115,390 shares of the financial services provider’s stock valued at $4,966,000 after purchasing an additional 5,952 shares during the period. Finally, My Legacy Advisors LLC acquired a new stake in Fifth Third Bancorp in the first quarter valued at about $1,172,000. Institutional investors and hedge funds own 81.00% of the company’s stock.

A number of equities research analysts recently commented on FITB shares. Bank of America raised their price objective on shares of Fifth Third Bancorp from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. Wolfe Research reduced their price objective on shares of Fifth Third Bancorp from $47.00 to $37.00 and set a “peer perform” rating for the company in a research report on Thursday, May 26th. Wedbush raised their price objective on shares of Fifth Third Bancorp to $48.00 and gave the company a “na” rating in a research report on Tuesday, May 17th. Wells Fargo & Company upgraded shares of Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating and set a $52.00 price objective for the company in a research report on Thursday, April 28th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Fifth Third Bancorp in a report on Thursday, March 24th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $48.36.

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $36.93, for a total value of $92,325.00. Following the completion of the sale, the executive vice president now directly owns 45,844 shares of the company’s stock, valued at approximately $1,693,018.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Greg D. Carmichael sold 50,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the sale, the chief executive officer now directly owns 644,745 shares of the company’s stock, valued at $25,822,037.25. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

Shares of FITB opened at $34.46 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $37.38 and a 200-day simple moving average of $42.64. Fifth Third Bancorp has a 1-year low of $33.00 and a 1-year high of $50.64. The stock has a market cap of $23.56 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.13 and a beta of 1.30.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last issued its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Fifth Third Bancorp had a return on equity of 12.99% and a net margin of 31.14%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business earned $0.93 earnings per share. On average, equities analysts expect that Fifth Third Bancorp will post 3.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.48%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 34.38%.

Fifth Third Bancorp Profile (Get Rating)

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.

Read More

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

Want More Great Investing Ideas?

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.