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 stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fifth Third Bancorp Stock Performance

FITB opened at $43.68 on Friday. The business’s 50-day simple moving average is $42.78 and its 200 day simple moving average is $39.60. Fifth Third Bancorp has a 52-week low of $23.17 and a 52-week high of $45.71. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $29.56 billion, a PE ratio of 14.51, a PEG ratio of 2.09 and a beta of 1.22.

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

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.37 per share. 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 dividend yield of 3.39%. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Argus increased their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Barclays increased their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley lifted their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.28.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds have recently added to or reduced their stakes in FITB. TFB Advisors LLC acquired a new stake in Fifth Third Bancorp during the third quarter worth approximately $223,000. Principal Financial Group Inc. boosted its stake in Fifth Third Bancorp by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider’s stock valued at $35,194,000 after purchasing an additional 14,137 shares during the period. Jackson Square Capital LLC bought a new position in Fifth Third Bancorp during the 3rd quarter worth $454,000. Hanseatic Management Services Inc. lifted its holdings in shares of Fifth Third Bancorp by 2.9% during the third quarter. Hanseatic Management Services Inc. now owns 13,378 shares of the financial services provider’s stock worth $573,000 after buying an additional 374 shares in the last quarter. Finally, Graypoint LLC boosted its position in shares of Fifth Third Bancorp by 7.0% in the third quarter. Graypoint LLC now owns 11,259 shares of the financial services provider’s stock valued at $482,000 after acquiring an additional 733 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Company 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.