Insider Selling: Fifth Third Bancorp (FITB) EVP Sells $685,620.00 in Stock

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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.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.88 annualized dividend and a dividend yield of 3.10%. Fifth Third Bancorp’s dividend payout ratio is currently 34.65%.

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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