Kentucky Retirement Systems Insurance Trust Fund Has $1.32 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 56.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,264 shares of the financial services provider’s stock after acquiring an additional 11,226 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Fifth Third Bancorp were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC boosted its position in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares in the last quarter. Y.D. More Investments Ltd boosted its position 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 buying an additional 449 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Truist Financial raised their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, DA Davidson raised their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $44.46 on Wednesday. Fifth Third Bancorp has a twelve month low of $33.03 and a twelve month high of $49.07. The firm has a fifty day simple moving average of $43.66 and a 200 day simple moving average of $43.54. The company has a market capitalization of $29.81 billion, a PE ratio of 14.16, a P/E/G ratio of 1.44 and a beta of 1.23. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio 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.