Fifth Third Bancorp (NASDAQ:FITB) EVP Sells $327,525.00 in Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Fifth Third Bancorp Trading Up 0.2 %

NASDAQ FITB opened at $44.08 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50-day moving average is $42.73 and its 200-day moving average is $39.57. Fifth Third Bancorp has a one year low of $23.17 and a one year high of $45.71. The firm has a market cap of $29.83 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.09 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. Sell-side analysts anticipate that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio is presently 49.17%.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter worth about $215,000. Gordian Advisors LLC acquired a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $227,000. Centennial Wealth Advisory LLC grew its stake in shares of Fifth Third Bancorp by 3.2% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 9,691 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 297 shares in the last quarter. Greenwood Capital Associates LLC acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at approximately $981,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the third quarter worth $53,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the subject of several research reports. Jefferies Financial Group lifted their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada upped their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Morgan Stanley lifted their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Barclays increased their price target on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.28.

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.