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 the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $44.08 on Thursday. The stock’s fifty day simple moving average is $42.73 and its 200 day simple moving average is $39.57. Fifth Third Bancorp has a one year low of $23.17 and a one year high of $45.71. The firm has a market cap of $29.83 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 2.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

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

Fifth Third Bancorp Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.36%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Institutional Trading of Fifth Third Bancorp

Several hedge funds have recently modified their holdings of the company. American Capital Advisory LLC bought a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $34,000. Hexagon Capital Partners LLC boosted its stake in 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 in the last quarter. Centerpoint Advisors LLC boosted its stake in 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 in the last quarter. Family Firm Inc. bought a new stake in shares of Fifth Third Bancorp during the second quarter worth $52,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at $53,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on FITB shares. Jefferies Financial Group upped their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Evercore ISI upped their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada increased 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. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Morgan Stanley increased their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently 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.