Insider Selling: Fifth Third Bancorp (NASDAQ:FITB) Director Sells $494,520.00 in Stock

Fifth Third Bancorp (NASDAQ:FITB) Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were 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 can be accessed through this hyperlink.

Fifth Third Bancorp Trading Up 1.1 %

Fifth Third Bancorp stock opened at $42.27 on Friday. The stock has a market cap of $28.91 billion, a P/E ratio of 13.42, a PEG ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $42.31. The firm’s 50 day moving average price is $37.39 and its 200-day moving average price is $36.16.

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

Fifth Third Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FITB. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Royal Bank of Canada raised their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Bank of America raised their price objective on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $40.15.

Institutional Investors Weigh In On Fifth Third Bancorp

Several large investors have recently bought and sold shares of FITB. SG Americas Securities LLC increased its position in Fifth Third Bancorp by 65.6% in the fourth quarter. SG Americas Securities LLC now owns 66,675 shares of the financial services provider’s stock worth $2,300,000 after purchasing an additional 26,408 shares during the last quarter. Raymond James & Associates increased its position in Fifth Third Bancorp by 11.7% in the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock worth $22,805,000 after purchasing an additional 69,273 shares during the last quarter. Planned Solutions Inc. bought a new stake in Fifth Third Bancorp in the fourth quarter worth $79,000. Hill Island Financial LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth $662,000. Finally, Lockerman Financial Group Inc. purchased a new position in Fifth Third Bancorp during the fourth quarter worth $227,000. 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.