Fifth Third Bancorp (NASDAQ:FITB) EVP Sells $540,497.66 in Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $37.23 on Thursday. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.41. 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 firm has a market capitalization of $25.36 billion, a PE ratio of 11.82, a P/E/G ratio of 1.38 and a beta of 1.27. The company’s 50 day simple moving average is $35.42 and its 200 day simple moving average is $32.10.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the business earned $0.78 earnings per share. As a group, equities research 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 declared 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 3.76%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of recent research reports. Robert W. Baird reissued a “neutral” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 1st. Morgan Stanley reissued an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a report on Monday. UBS Group reissued a “neutral” rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 price target (up previously from $39.00) on shares of Fifth Third Bancorp in a report on Monday. Finally, Wells Fargo & Company lifted their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.31.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. grew its position in Fifth Third Bancorp by 6.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock worth $2,110,000 after buying an additional 3,476 shares during the last quarter. Nordea Investment Management AB grew its position in Fifth Third Bancorp by 57.5% in the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after buying an additional 269,152 shares during the last quarter. Raymond James & Associates grew its position in Fifth Third Bancorp by 11.7% in the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock worth $22,805,000 after buying an additional 69,273 shares during the last quarter. International Assets Investment Management LLC grew its position in Fifth Third Bancorp by 48.0% in the fourth quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock worth $12,102,000 after buying an additional 113,838 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Fifth Third Bancorp by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after buying an additional 393,937 shares during the last quarter. 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.