Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $6.03 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,578 shares of the financial services provider’s stock after selling 4,754 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Fifth Third Bancorp were worth $6,028,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $25,000. Sierra Ocean LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $28,000. BankPlus Trust Department acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $29,000. Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the fourth quarter valued at about $33,000. Finally, Y.D. More Investments Ltd increased its holdings in Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 449 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at $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. 0.53% of the stock is owned by corporate insiders.

Fifth Third Bancorp Stock Up 0.1 %

NASDAQ:FITB opened at $39.48 on Friday. 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 market cap of $26.38 billion, a PE ratio of 12.57, a PEG ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07. The stock has a 50-day simple moving average of $42.53 and a 200 day simple moving average of $43.57.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.75%. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Analysts Set New Price Targets

A number of research firms recently commented on FITB. DA Davidson upped their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley dropped their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Barclays upped their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. 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 report on Wednesday, December 4th. Finally, Stephens reiterated an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $47.36.

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.