Fifth Third Bancorp (NASDAQ:FITB) EVP Sells $181,900.00 in Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares in the company, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Fifth Third Bancorp Stock Up 1.3 %

Fifth Third Bancorp stock opened at $37.21 on Friday. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.41. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $25.35 billion, a P/E ratio of 11.52, a PEG ratio of 1.38 and a beta of 1.26. The stock has a 50-day simple moving average of $34.75 and a 200-day simple moving average of $30.72.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the business earned $1.04 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.17 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.76%. The ex-dividend date is Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is presently 43.34%.

Analysts Set New Price Targets

Several research analysts recently commented on FITB shares. The Goldman Sachs Group boosted their target price on Fifth Third Bancorp from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Evercore ISI boosted their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday. Morgan Stanley boosted their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods cut Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $33.00 to $37.00 in a research note on Tuesday, January 9th. Finally, Stephens reissued an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus price target of $35.72.

Institutional Trading of Fifth Third Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its stake in Fifth Third Bancorp by 57.5% during the 4th quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock valued at $25,551,000 after acquiring an additional 269,152 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fifth Third Bancorp by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after acquiring an additional 393,937 shares during the last quarter. Natixis Advisors L.P. raised its stake in Fifth Third Bancorp by 4.3% during the 3rd quarter. Natixis Advisors L.P. now owns 671,803 shares of the financial services provider’s stock valued at $17,017,000 after acquiring an additional 27,610 shares during the last quarter. Raymond James & Associates raised its stake in Fifth Third Bancorp by 17.0% during the 3rd quarter. Raymond James & Associates now owns 591,942 shares of the financial services provider’s stock valued at $14,994,000 after acquiring an additional 85,981 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Fifth Third Bancorp by 460.8% during the 3rd quarter. National Bank of Canada FI now owns 675,898 shares of the financial services provider’s stock worth $16,559,000 after buying an additional 555,375 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

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.