Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm Sells 2,500 Shares

Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm sold 2,500 shares of the company’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 owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 shares were sold at an average price of $36.38, for a total value of $181,900.00.

Fifth Third Bancorp Trading Up 1.8 %

NASDAQ FITB opened at $37.56 on Friday. The company has a market cap of $25.58 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.77. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The business’s fifty day moving average is $35.88 and its 200 day moving average is $32.65.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results 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 return on equity of 16.11% and a net margin of 17.70%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the firm posted $0.78 earnings per share. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

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. This represents a $1.40 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds have recently modified their holdings of FITB. Avalon Advisory Group bought a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at about $2,267,000. Csenge Advisory Group boosted its holdings in Fifth Third Bancorp by 3.9% in the first quarter. Csenge Advisory Group now owns 37,953 shares of the financial services provider’s stock valued at $1,412,000 after acquiring an additional 1,418 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in Fifth Third Bancorp by 17.9% during the 1st quarter. Richardson Financial Services Inc. now owns 8,651 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 1,314 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Fifth Third Bancorp by 424.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,353 shares of the financial services provider’s stock valued at $720,000 after purchasing an additional 15,662 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Fifth Third Bancorp during the first quarter valued at $88,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FITB. Morgan Stanley reaffirmed an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. Evercore ISI upped their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Royal Bank of Canada lifted their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Robert W. Baird restated a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Finally, Stephens reiterated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. One equities research 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, Fifth Third Bancorp has an average rating of “Hold” and a consensus price target of $36.50.

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.