Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lifted its stake in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 815,889 shares of the financial services provider’s stock after purchasing an additional 5,541 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of Fifth Third Bancorp worth $20,666,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $185,924,000. BlackRock Inc. increased its stake in Fifth Third Bancorp by 6.2% in the 1st quarter. BlackRock Inc. now owns 58,769,408 shares of the financial services provider’s stock valued at $1,565,617,000 after purchasing an additional 3,448,642 shares in the last quarter. Franklin Resources Inc. raised its holdings in Fifth Third Bancorp by 35.9% during the second quarter. Franklin Resources Inc. now owns 12,057,866 shares of the financial services provider’s stock worth $316,037,000 after purchasing an additional 3,182,756 shares during the last quarter. Boston Partners boosted its position in Fifth Third Bancorp by 32.1% during the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock worth $331,188,000 after purchasing an additional 3,176,903 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Fifth Third Bancorp in the first quarter valued at $73,081,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.

Fifth Third Bancorp Stock Up 0.8 %

Shares of NASDAQ:FITB opened at $33.65 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The firm has a market cap of $22.92 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.28 and a beta of 1.27. The stock’s 50-day moving average price is $33.89 and its two-hundred day moving average price is $28.86. Fifth Third Bancorp has a 12-month low of $22.11 and a 12-month high of $37.51.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last released its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. On average, research analysts forecast that Fifth Third Bancorp will post 3.18 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 43.34%.

Analyst Upgrades and Downgrades

FITB has been the topic of several recent research reports. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 20th. Keefe, Bruyette & Woods downgraded shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and upped their price target for the company from $33.00 to $37.00 in a report on Tuesday, January 9th. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. Morgan Stanley upped their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Royal Bank of Canada boosted their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.63.

Read Our Latest Stock Analysis on Fifth Third Bancorp

Fifth Third Bancorp Company Profile

(Free Report)

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. 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.

Further Reading

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITBFree Report).

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

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.