State of Tennessee Treasury Department Trims Holdings in Fifth Third Bancorp (FITB)

State of Tennessee Treasury Department cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,454 shares of the financial services provider’s stock after selling 4,753 shares during the period. State of Tennessee Treasury Department’s holdings in Fifth Third Bancorp were worth $5,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sun Life Financial INC increased its stake in shares of Fifth Third Bancorp by 55,050.0% in the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 5,505 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 17 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Fifth Third Bancorp by 14.2% in the second quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 847 shares in the last quarter. Regentatlantic Capital LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter worth $205,000. Finally, Chicago Equity Partners LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter worth $231,000. 81.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at $28.19 on Tuesday. The stock has a market cap of $19,523.43, a PE ratio of 15.37, a PEG ratio of 2.29 and a beta of 1.34. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93. Fifth Third Bancorp has a twelve month low of $23.20 and a twelve month high of $29.39.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same quarter last year, the business earned $0.65 EPS. research analysts expect that Fifth Third Bancorp will post 1.8 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Thursday, September 28th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.14. Fifth Third Bancorp’s dividend payout ratio (DPR) is 23.97%.

COPYRIGHT VIOLATION NOTICE: “State of Tennessee Treasury Department Trims Holdings in Fifth Third Bancorp (FITB)” was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.chaffeybreeze.com/2017/11/14/state-of-tennessee-treasury-department-trims-holdings-in-fifth-third-bancorp-fitb.html.

In other news, EVP Timothy Spence sold 15,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the sale, the executive vice president now owns 154,577 shares in the company, valued at approximately $4,461,092.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $26.21, for a total transaction of $183,574.84. Following the completion of the sale, the executive vice president now owns 71,793 shares of the company’s stock, valued at approximately $1,881,694.53. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

A number of analysts have recently issued reports on FITB shares. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. UBS AG restated a “sell” rating and set a $26.00 target price (up previously from $25.00) on shares of Fifth Third Bancorp in a research report on Friday, October 6th. Bank of America Corporation upped their target price on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Piper Jaffray Companies restated a “hold” rating and set a $27.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, October 24th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fifth Third Bancorp in a research report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $28.33.

About Fifth Third Bancorp

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

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.

Latest News

Leave a Reply