Fifth Third Bancorp (NASDAQ:FITB) Shares Gap Down – Time to Sell?

Fifth Third Bancorp (NASDAQ:FITB)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $34.40, but opened at $33.33. Fifth Third Bancorp shares last traded at $34.05, with a volume of 1,609,362 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FITB. JPMorgan Chase & Co. decreased their target price on Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Truist Financial boosted their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Baird R W upgraded Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Citigroup reduced their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, DA Davidson upped their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.12.

Fifth Third Bancorp Price Performance

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average is $39.54 and its 200-day moving average is $42.77. The stock has a market cap of $23.04 billion, a PE ratio of 11.04, a P/E/G ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same quarter last year, the firm earned $0.70 EPS. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.29%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This trade 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 at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Several large investors have recently added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $28,000. Quarry LP acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth approximately $29,000. BankPlus Trust Department bought a new position in Fifth Third Bancorp in the 4th quarter worth approximately $29,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $33,000. 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.