Fifth Third Bancorp (NASDAQ:FITB) EVP Kristine R. Garrett Sells 7,500 Shares

Fifth Third Bancorp (NASDAQ:FITB) EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Fifth Third Bancorp Trading Down 0.1 %

Fifth Third Bancorp stock opened at $44.01 on Wednesday. Fifth Third Bancorp has a 1 year low of $22.93 and a 1 year high of $45.71. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $29.78 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 2.09 and a beta of 1.22. The firm’s 50 day moving average price is $42.66 and its two-hundred day moving average price is $39.54.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. On average, research analysts predict that Fifth Third Bancorp will post 3.33 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.37 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp’s payout ratio is currently 49.17%.

Hedge Funds Weigh In On Fifth Third Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC grew its holdings in shares of Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 312 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at $34,000. Abich Financial Wealth Management LLC lifted its stake in shares of Fifth Third Bancorp by 1,787.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,269 shares during the last quarter. Centerpoint Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 750 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at $52,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FITB. Barclays lifted their price target on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Evercore ISI lifted their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Morgan Stanley lifted their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Royal Bank of Canada boosted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus target price of $42.28.

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.