Fifth Third Bancorp (NASDAQ:FITB) EVP Sells $945,035.00 in Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Fifth Third Bancorp Price Performance

Shares of FITB traded down $0.73 during mid-day trading on Friday, reaching $42.88. The stock had a trading volume of 4,726,728 shares, compared to its average volume of 4,598,348. The firm has a market cap of $28.75 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a 12 month low of $33.03 and a 12 month high of $49.07. The business has a fifty day moving average of $43.55 and a 200 day moving average of $43.58. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. Fifth Third Bancorp’s payout ratio is currently 47.13%.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds have recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its position in shares of Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 222 shares during the period. Transamerica Financial Advisors Inc. boosted its position in shares of Fifth Third Bancorp by 7.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 232 shares during the period. Eads & Heald Wealth Management boosted its position in shares of Fifth Third Bancorp by 3.0% during the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 235 shares during the last quarter. Valley National Advisers Inc. boosted its position in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 236 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Fifth Third Bancorp by 4.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 246 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FITB. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Keefe, Bruyette & Woods lifted their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Citigroup lifted 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 note on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.75.

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.