Kristine R. Garrett Sells 7,500 Shares of Fifth Third Bancorp (NASDAQ:FITB) Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB traded down $0.04 during midday trading on Tuesday, reaching $44.01. 5,487,901 shares of the company were exchanged, compared to its average volume of 4,620,197. The stock’s 50-day moving average price is $42.60 and its 200-day moving average price is $39.47. The stock has a market cap of $29.79 billion, a P/E ratio of 14.63, a PEG ratio of 2.09 and a beta of 1.22. Fifth Third Bancorp has a one year low of $22.93 and a one year high of $45.71. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 EPS. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Institutional Trading of Fifth Third Bancorp

Institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC grew its stake in shares of Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of Fifth Third Bancorp in the second quarter worth $34,000. Abich Financial Wealth Management LLC grew its stake in shares of Fifth Third Bancorp by 1,787.3% in the third quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,269 shares during the last quarter. Centerpoint Advisors LLC grew its stake in shares of Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 750 shares during the last quarter. Finally, Family Firm Inc. bought a new stake in shares of Fifth Third Bancorp in the second quarter worth $52,000. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of research analyst reports. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada raised their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Argus raised their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Barclays raised their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. 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 company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus price target of $42.28.

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.