Fifth Third Bancorp (NASDAQ:FITB) EVP Kala Gibson Sells 14,857 Shares of Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $36.55 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average of $35.26 and a 200-day moving average of $31.97. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.41. The firm has a market cap of $24.90 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. Analysts forecast that Fifth Third Bancorp will post 3.19 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is 44.44%.

Analyst Upgrades and Downgrades

FITB has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada increased their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Morgan Stanley reissued an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a research note on Monday. Finally, Barclays lifted their price objective 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.31.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of FITB. Nordea Investment Management AB boosted its holdings in shares of Fifth Third Bancorp by 57.5% in the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after buying an additional 269,152 shares during the period. Raymond James & Associates lifted its position in shares of Fifth Third Bancorp by 11.7% in the 4th quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock valued at $22,805,000 after acquiring an additional 69,273 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Fifth Third Bancorp by 48.0% in the 4th quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock worth $12,102,000 after purchasing an additional 113,838 shares during the period. Charles Schwab Investment Management Inc. grew its position in Fifth Third Bancorp by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after purchasing an additional 393,937 shares in the last quarter. Finally, Vicus Capital raised its stake in Fifth Third Bancorp by 4.1% during the 4th quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 397 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.