Fifth Third Bancorp (NASDAQ:FITB) COO James C. Leonard Sells 17,200 Shares

Fifth Third Bancorp (NASDAQ:FITB) COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Fifth Third Bancorp Trading Down 1.7 %

Shares of FITB stock traded down $0.73 during trading hours on Friday, reaching $42.88. 4,726,728 shares of the stock were exchanged, compared to its average volume of 4,598,348. The firm has a market capitalization of $28.75 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12-month low of $33.03 and a 12-month high of $49.07. The company’s 50-day moving average price is $43.55 and its 200-day moving average price is $43.58.

Fifth Third Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Barclays boosted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Citigroup boosted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial boosted their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their target price 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.75.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC boosted its position in Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after buying an additional 34,203 shares during the period. QRG Capital Management Inc. boosted its position in Fifth Third Bancorp by 15.1% in the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock valued at $3,078,000 after buying an additional 9,444 shares during the period. Lockheed Martin Investment Management Co. purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at about $9,878,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 valued at $19,776,000 after buying an additional 55,081 shares during the period. Finally, Smith Group Asset Management LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at about $423,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

About Fifth Third Bancorp

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.