Insider Selling: Fifth Third Bancorp (NASDAQ:FITB) Director Sells 12,000 Shares of Stock

Fifth Third Bancorp (NASDAQ:FITB) Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the sale, the director now directly owns 20,961 shares in the company, valued at approximately $863,802.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Fifth Third Bancorp Stock Up 1.1 %

NASDAQ FITB opened at $42.27 on Friday. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $42.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The business’s fifty day simple moving average is $37.39 and its 200-day simple moving average is $36.16. The firm has a market cap of $28.91 billion, a PE ratio of 13.42, a P/E/G ratio of 1.97 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.31%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FITB shares. Evercore ISI dropped their price objective on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Finally, Bank of America lifted their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.15.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Fifth Third Bancorp during the 1st quarter worth $29,000. Denali Advisors LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at about $36,000. Friedenthal Financial purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at about $48,000. Centerpoint Advisors LLC raised its holdings in Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after buying an additional 750 shares during the period. Finally, Family Firm Inc. purchased a new stake in Fifth Third Bancorp in the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors 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.