Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares of the company's stock, valued at approximately $2,441,720.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Fifth Third Bancorp Trading Down 0.1 %
Shares of FITB opened at $44.01 on Wednesday. The stock's fifty day simple moving average is $42.66 and its 200-day simple moving average is $39.54. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $29.78 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 2.09 and a beta of 1.22. Fifth Third Bancorp has a 12-month low of $22.93 and a 12-month high of $45.71.
Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.92 EPS. As a group, research analysts predict that Fifth Third Bancorp will post 3.33 earnings per share for the current year.
Fifth Third Bancorp Increases Dividend
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The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.36%. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's dividend payout ratio is 49.17%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Bank of America boosted their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Baird R W downgraded Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Argus raised their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Barclays upped their price target on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Finally, Morgan Stanley lifted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.28.
Check Out Our Latest Analysis on FITB
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in FITB. Quent Capital LLC lifted its stake in Fifth Third Bancorp by 9.9% in the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider's stock valued at $118,000 after buying an additional 248 shares during the period. Diversified Trust Co raised its position in shares of Fifth Third Bancorp by 2.6% in the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider's stock valued at $433,000 after acquiring an additional 259 shares during the period. Bailard Inc. boosted its stake in Fifth Third Bancorp by 0.5% during the 2nd quarter. Bailard Inc. now owns 51,657 shares of the financial services provider's stock worth $1,885,000 after acquiring an additional 264 shares during the last quarter. Lockerman Financial Group Inc. grew its holdings in Fifth Third Bancorp by 3.9% during the third quarter. Lockerman Financial Group Inc. now owns 6,985 shares of the financial services provider's stock valued at $299,000 after purchasing an additional 264 shares during the period. Finally, Ballentine Partners LLC grew its holdings in Fifth Third Bancorp by 2.0% during the second quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider's stock valued at $513,000 after purchasing an additional 278 shares during the period. 83.79% of the stock is currently owned by institutional investors.
About Fifth Third Bancorp
(
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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.
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