Key Points
- Jude Schramm, EVP of Fifth Third Bancorp, sold 2,250 shares at an average price of $48.50 for a total of $109,125, trimming his holding by 1.71% to 129,191 shares.
- Fifth Third announced a quarterly dividend of $0.40 (annualized $1.60) with an ex-dividend and record date of December 31 and a payment date of January 15, implying a yield of about 3.3%.
- The stock traded around $47.83 (near a 52-week high of $48.71) and carries a MarketBeat consensus rating of "Moderate Buy" with an average price target of $51.20 and a trailing P/E of 14.28.
Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) EVP Jude Schramm sold 2,250 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the transaction, the executive vice president directly owned 129,191 shares in the company, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Fifth Third Bancorp Stock Down 0.7%
Shares of NASDAQ FITB opened at $47.83 on Tuesday. The stock has a market capitalization of $31.62 billion, a PE ratio of 14.28, a P/E/G ratio of 0.98 and a beta of 0.99. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average of $43.15 and a 200-day moving average of $42.89. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $48.71.
Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The firm had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%. On average, analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.
Fifth Third Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.60 annualized dividend and a yield of 3.3%. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.76%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on FITB. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Fifth Third Bancorp in a research note on Wednesday, October 8th. Wolfe Research upped their price target on shares of Fifth Third Bancorp from $52.00 to $53.00 and gave the company an "outperform" rating in a report on Monday, October 20th. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, December 1st. The Goldman Sachs Group upped their target price on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Finally, Wall Street Zen upgraded Fifth Third Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $51.20.
Get Our Latest Research Report on FITB
Institutional Investors Weigh In On Fifth Third Bancorp
A number of institutional investors have recently modified their holdings of the business. Evolution Wealth Management Inc. acquired a new position in Fifth Third Bancorp in the second quarter valued at approximately $26,000. Westside Investment Management Inc. lifted its holdings in shares of Fifth Third Bancorp by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider's stock worth $26,000 after purchasing an additional 292 shares during the last quarter. Banque Transatlantique SA acquired a new position in Fifth Third Bancorp during the 1st quarter valued at approximately $27,000. Activest Wealth Management grew its stake in Fifth Third Bancorp by 1,043.3% during the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider's stock worth $28,000 after buying an additional 626 shares during the last quarter. Finally, United Community Bank increased its position in Fifth Third Bancorp by 581.0% in the third quarter. United Community Bank now owns 681 shares of the financial services provider's stock worth $30,000 after buying an additional 581 shares during the period. Institutional investors own 83.79% of the company's stock.
About Fifth Third Bancorp
(
Get Free Report)
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.
Further Reading
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