Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm Sells 5,000 Shares

Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fifth Third Bancorp Trading Up 1.3 %

Shares of NASDAQ FITB opened at $37.21 on Friday. The company’s fifty day moving average is $34.75 and its 200-day moving average is $30.72. The stock has a market cap of $25.35 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.38 and a beta of 1.26. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.41. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same period last year, the firm posted $1.04 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 3.17 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a $0.35 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.76%. Fifth Third Bancorp’s dividend payout ratio is currently 43.34%.

Institutional Investors Weigh In On Fifth Third Bancorp

Several institutional investors have recently added to or reduced their stakes in FITB. GoalVest Advisory LLC lifted its position in Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares in the last quarter. Clear Street Markets LLC increased its stake in Fifth Third Bancorp by 93.4% in the 1st quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after buying an additional 647 shares during the last quarter. Denali Advisors LLC acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at $36,000. ICA Group Wealth Management LLC acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at $38,000. Finally, Financial Management Professionals Inc. increased its stake in Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,000 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FITB has been the topic of several research analyst reports. Barclays increased their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. UBS Group increased their price target on shares of Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Keefe, Bruyette & Woods cut shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the company from $33.00 to $37.00 in a research note on Tuesday, January 9th. Stephens reissued an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Finally, Evercore ISI increased their price objective on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.72.

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.