Fifth Third Bancorp (NASDAQ:FITB) Director Gary R. Heminger Purchases 33,000 Shares

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) Director Gary R. Heminger bought 33,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $26.82 per share, for a total transaction of $885,060.00. Following the transaction, the director now owns 127,043 shares in the company, valued at approximately $3,407,293.26. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $26.38 on Wednesday. Fifth Third Bancorp has a twelve month low of $22.11 and a twelve month high of $48.03. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 0.98 and a beta of 1.21. The stock has a fifty day simple moving average of $35.19 and a two-hundred day simple moving average of $34.47. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last issued its earnings results on Thursday, January 19th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. Fifth Third Bancorp had a return on equity of 15.48% and a net margin of 26.15%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the business earned $0.90 EPS. On average, analysts predict that Fifth Third Bancorp will post 3.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FITB. Morgan Stanley reissued an “equal weight” rating and set a $37.00 target price on shares of Fifth Third Bancorp in a research report on Monday, December 5th. DA Davidson began coverage on Fifth Third Bancorp in a research report on Tuesday, December 20th. They set a “neutral” rating and a $36.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Fifth Third Bancorp from $44.00 to $37.00 in a research report on Friday, January 6th. StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, March 10th. Finally, Piper Sandler cut their target price on Fifth Third Bancorp from $43.00 to $40.00 in a research report on Friday, March 10th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Fifth Third Bancorp by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,477,138 shares of the financial services provider’s stock worth $1,229,625,000 after purchasing an additional 7,062,005 shares during the last quarter. Norges Bank purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $185,924,000. Bank of America Corp DE lifted its stake in shares of Fifth Third Bancorp by 10.5% during the 4th quarter. Bank of America Corp DE now owns 33,243,129 shares of the financial services provider’s stock worth $1,090,707,000 after purchasing an additional 3,172,058 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Fifth Third Bancorp by 127.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,469,859 shares of the financial services provider’s stock worth $142,864,000 after purchasing an additional 2,504,590 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Fifth Third Bancorp by 18.8% during the 4th quarter. Morgan Stanley now owns 11,944,073 shares of the financial services provider’s stock worth $391,885,000 after purchasing an additional 1,891,388 shares during the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Company Profile

(Get Rating)

Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth and Asset Management.