Fifth Third Bancorp (NASDAQ:FITB) EVP Sells $93,750.00 in Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Jude Schramm also recently made the following trade(s):

• On Monday, March 25th, Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock. The shares were sold at an average price of $36.38, for a total value of $181,900.00.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $37.56 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $25.58 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.77. The business has a 50 day simple moving average of $35.88 and a 200 day simple moving average of $32.65.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter last year, the company earned $0.78 EPS. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.73%. Fifth Third Bancorp’s payout ratio is 44.44%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FITB shares. Royal Bank of Canada raised their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $37.50 to $39.50 in a report on Wednesday. Morgan Stanley reissued an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, UBS Group reissued a “neutral” rating and set a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $36.50.

Hedge Funds Weigh In On Fifth Third Bancorp

Institutional investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. raised its position in Fifth Third Bancorp by 6.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock valued at $2,110,000 after purchasing an additional 3,476 shares during the last quarter. Nordea Investment Management AB raised its position in Fifth Third Bancorp by 57.5% in 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 purchasing an additional 269,152 shares during the last quarter. Raymond James & Associates raised its position in Fifth Third Bancorp by 11.7% in the 4th quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock valued at $22,805,000 after purchasing an additional 69,273 shares during the last quarter. International Assets Investment Management LLC raised its position in Fifth Third Bancorp by 48.0% in the 4th quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock valued at $12,102,000 after purchasing an additional 113,838 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Fifth Third Bancorp by 2.7% in 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 buying an additional 393,937 shares during the period. Institutional investors own 83.79% of the company’s stock.

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.