Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lessened its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,449 shares of the financial services provider’s stock after selling 510 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Fifth Third Bancorp were worth $2,429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FITB. Assenagon Asset Management S.A. raised its position in shares of Fifth Third Bancorp by 8.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 21,705 shares of the financial services provider’s stock worth $930,000 after purchasing an additional 1,740 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Fifth Third Bancorp by 0.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 144,408 shares of the financial services provider’s stock valued at $6,186,000 after acquiring an additional 993 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in Fifth Third Bancorp by 7.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,220 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 1,363 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in Fifth Third Bancorp by 5.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 6,016 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 306 shares during the last quarter. Finally, Nadler Financial Group Inc. acquired a new stake in Fifth Third Bancorp in the 3rd quarter valued at about $230,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $42.98 on Friday. The stock has a market capitalization of $28.82 billion, a P/E ratio of 13.69, a PEG ratio of 1.42 and a beta of 1.23. Fifth Third Bancorp has a fifty-two week low of $33.48 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50 day moving average price of $43.42 and a 200 day moving average price of $43.71.

Fifth Third Bancorp Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.44%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Fifth Third Bancorp Profile

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.