Insider Selling: Fifth Third Bancorp (NASDAQ:FITB) EVP Sells $100,000.00 in Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares in the company, valued at approximately $5,376,880. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Jude Schramm also recently made the following trade(s):

• On Wednesday, May 1st, Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock. The shares were sold at an average price of $37.50, for a total value of $93,750.00.

Fifth Third Bancorp Stock Up 1.9 %

FITB stock opened at $40.99 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $28.04 billion, a PE ratio of 13.01, a PEG ratio of 2.87 and a beta of 1.24. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $41.41. The business’s 50 day simple moving average is $37.10 and its 200 day simple moving average is $35.93.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period last year, the business earned $0.87 EPS. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.29 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Friday, June 28th. Fifth Third Bancorp’s payout ratio is presently 44.44%.

Wall Street Analysts Forecast Growth

FITB has been the topic of several recent analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 1st. Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research note on Friday, May 31st. Jefferies Financial Group boosted their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. UBS Group restated a “neutral” rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Finally, Evercore ISI cut their target price on 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. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $38.15.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FITB. American Century Companies Inc. grew its holdings in Fifth Third Bancorp by 28.3% in the 3rd quarter. American Century Companies Inc. now owns 300,561 shares of the financial services provider’s stock valued at $7,613,000 after buying an additional 66,255 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Fifth Third Bancorp by 61.0% in the third quarter. Wellington Management Group LLP now owns 509,131 shares of the financial services provider’s stock valued at $12,896,000 after buying an additional 192,974 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Fifth Third Bancorp by 3.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 28,095 shares of the financial services provider’s stock valued at $721,000 after buying an additional 809 shares during the period. Wedmont Private Capital acquired a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $227,000. Finally, Nordea Investment Management AB boosted its holdings in Fifth Third Bancorp by 57.5% in the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after acquiring an additional 269,152 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

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.