Kevin P. Lavender Sells 21,700 Shares of Fifth Third Bancorp (NASDAQ:FITB) Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Fifth Third Bancorp Stock Down 1.7 %

Shares of NASDAQ:FITB opened at $42.88 on Monday. The stock has a market capitalization of $28.75 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Fifth Third Bancorp has a 1-year low of $33.03 and a 1-year high of $49.07. The company’s fifty day moving average is $43.50 and its two-hundred day moving average is $43.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Institutional Trading of Fifth Third Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Boston Common Asset Management LLC raised its holdings in shares of Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after purchasing an additional 34,203 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Fifth Third Bancorp by 15.1% during the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the period. Lockheed Martin Investment Management Co. acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $9,878,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Fifth Third Bancorp by 13.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock worth $19,776,000 after acquiring an additional 55,081 shares during the period. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $423,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. DA Davidson lifted their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, Barclays lifted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.75.

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.