Fifth Third Bancorp (NASDAQ:FITB) EVP Frank R. Forrest sold 26,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $26.37, for a total transaction of $685,620.00. Following the sale, the executive vice president now directly owns 62,974 shares in the company, valued at approximately $1,660,624.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
FITB stock opened at $28.41 on Friday. The firm has a market capitalization of $18.07 billion, a P/E ratio of 11.19, a PEG ratio of 1.30 and a beta of 1.33. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97. Fifth Third Bancorp has a 12-month low of $22.12 and a 12-month high of $34.67.
Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. During the same quarter in the previous year, the business earned $0.48 earnings per share. Equities analysts anticipate that Fifth Third Bancorp will post 2.76 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in FITB. Assenagon Asset Management S.A. acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at about $426,000. Victory Capital Management Inc. raised its holdings in shares of Fifth Third Bancorp by 4.0% during the third quarter. Victory Capital Management Inc. now owns 122,782 shares of the financial services provider’s stock valued at $3,428,000 after purchasing an additional 4,756 shares during the period. Private Advisor Group LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at about $210,000. WINTON GROUP Ltd raised its holdings in shares of Fifth Third Bancorp by 179.4% during the third quarter. WINTON GROUP Ltd now owns 211,812 shares of the financial services provider’s stock valued at $5,914,000 after purchasing an additional 136,003 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Fifth Third Bancorp by 13.9% during the third quarter. SG Americas Securities LLC now owns 214,705 shares of the financial services provider’s stock valued at $5,995,000 after purchasing an additional 26,273 shares during the period. Hedge funds and other institutional investors own 82.08% of the company’s stock.
A number of analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating on shares of Fifth Third Bancorp in a research note on Thursday. Stephens raised shares of Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 20th. BidaskClub cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 13th. Citigroup raised shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $37.00 to $29.00 in a research note on Wednesday, January 9th. Finally, ValuEngine raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Fifth Third Bancorp has an average rating of “Hold” and a consensus price target of $31.27.
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About Fifth Third Bancorp
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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