Fifth Third Bancorp (NASDAQ:FITB) Stake Boosted by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 60.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,513 shares of the financial services provider’s stock after buying an additional 45,489 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Fifth Third Bancorp were worth $3,039,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. raised its holdings in Fifth Third Bancorp by 82.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. Whitnell & Co. bought a new position in shares of Fifth Third Bancorp in the 1st quarter worth about $28,000. Guidant Wealth Advisors bought a new position in shares of Fifth Third Bancorp in the 1st quarter worth about $29,000. First Command Bank increased its stake in shares of Fifth Third Bancorp by 2,825.0% in the 1st quarter. First Command Bank now owns 1,638 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,582 shares in the last quarter. Finally, JOYN Advisors Inc. increased its stake in shares of Fifth Third Bancorp by 38.6% in the 4th quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 480 shares in the last quarter. 81.88% of the stock is owned by institutional investors and hedge funds.

NASDAQ FITB traded up $0.18 on Friday, reaching $27.39. 5,714,732 shares of the stock were exchanged, compared to its average volume of 7,313,253. Fifth Third Bancorp has a one year low of $22.12 and a one year high of $30.92. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.35 and a beta of 1.36. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. During the same quarter last year, the business earned $0.57 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 2.8 EPS for the current year.

Several research analysts recently issued reports on FITB shares. ValuEngine upgraded shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, March 12th. BidaskClub downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Wedbush reissued an “outperform” rating on shares of Fifth Third Bancorp in a research report on Thursday, March 14th. Finally, Jefferies Financial Group raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Fifth Third Bancorp has an average rating of “Buy” and a consensus target price of $31.60.

In related news, CAO Teresa J. Tanner sold 55,600 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $27.47, for a total value of $1,527,332.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jewell D. Hoover sold 3,739 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $26.51, for a total transaction of $99,120.89. Following the completion of the sale, the director now owns 50,397 shares in the company, valued at approximately $1,336,024.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,466 shares of company stock worth $1,716,402. Company insiders own 0.40% of the company’s stock.

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Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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