Jude Schramm Sells 2,500 Shares of Fifth Third Bancorp (NASDAQ:FITB) 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 of the company’s stock, valued at $5,134,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $36.38, for a total transaction of $181,900.00.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $37.56 on Friday. The stock has a market cap of $25.58 billion, a PE ratio of 11.92, a P/E/G ratio of 1.40 and a beta of 1.24. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.77. The business’s 50-day moving average price is $35.79 and its two-hundred day moving average price is $32.56.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share 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 firm 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 posted $0.78 earnings per share. As a group, analysts expect that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Analysts Set New Price Targets

Several analysts recently commented on FITB shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 target price (up previously from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Robert W. Baird reissued a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. Evercore ISI increased their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.50.

Institutional Investors Weigh In On Fifth Third Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. grew its stake in shares of Fifth Third Bancorp by 3.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 300 shares during the last quarter. Lcnb Corp lifted its stake in shares of Fifth Third Bancorp by 1.7% in the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 319 shares during the period. MCF Advisors LLC increased its position in Fifth Third Bancorp by 0.8% during the 1st quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock valued at $1,558,000 after purchasing an additional 328 shares during the period. Independence Bank of Kentucky lifted its position in shares of Fifth Third Bancorp by 21.1% in the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 355 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Fifth Third Bancorp by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 73,905 shares of the financial services provider’s stock worth $2,750,000 after buying an additional 365 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.