New York State Teachers Retirement System Sells 7,700 Shares of Fifth Third Bancorp (NASDAQ:FITB)

New York State Teachers Retirement System cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 586,060 shares of the financial services provider’s stock after selling 7,700 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Fifth Third Bancorp worth $24,779,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in shares of Fifth Third Bancorp in the third quarter valued at $69,000. Creative Planning lifted its holdings in shares of Fifth Third Bancorp by 1.8% during the 3rd quarter. Creative Planning now owns 236,317 shares of the financial services provider’s stock worth $10,124,000 after acquiring an additional 4,116 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Fifth Third Bancorp by 5.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 8,531 shares of the financial services provider’s stock valued at $365,000 after acquiring an additional 426 shares in the last quarter. Global Retirement Partners LLC increased its stake in Fifth Third Bancorp by 23.9% in the third quarter. Global Retirement Partners LLC now owns 9,325 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 1,796 shares during the period. Finally, Bleakley Financial Group LLC raised its position in Fifth Third Bancorp by 5.7% in the third quarter. Bleakley Financial Group LLC now owns 13,489 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 727 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup lifted their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Truist Financial increased their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Trading Up 1.1 %

FITB stock opened at $44.06 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a twelve month low of $33.03 and a twelve month high of $49.07. The company has a market cap of $29.54 billion, a P/E ratio of 14.03, a PEG ratio of 1.44 and a beta of 1.23. The business has a fifty day moving average of $43.70 and a 200-day moving average of $43.50.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

About Fifth Third Bancorp

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.