Fifth Third Bancorp (FITB) EVP Sells $154,268.40 in Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Frank R. Forrest sold 4,836 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $31.90, for a total value of $154,268.40. Following the transaction, the executive vice president now owns 112,474 shares of the company’s stock, valued at approximately $3,587,920.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded up $0.88 during mid-day trading on Monday, reaching $31.98. 8,425,300 shares of the company’s stock were exchanged, compared to its average volume of 5,456,523. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.90 and a quick ratio of 0.89. Fifth Third Bancorp has a 1-year low of $23.20 and a 1-year high of $33.91. The company has a market cap of $22,830.00, a PE ratio of 11.35, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. analysts forecast that Fifth Third Bancorp will post 2.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.00%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 22.46%.

A number of research firms have issued reports on FITB. BidaskClub upgraded Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Bank of America lifted their price target on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Oppenheimer reiterated a “hold” rating on shares of Fifth Third Bancorp in a research note on Tuesday, October 24th. Morgan Stanley lifted their price target on Fifth Third Bancorp from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Finally, Zacks Investment Research cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 12th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $30.70.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FITB. Horan Capital Advisors LLC. purchased a new position in shares of Fifth Third Bancorp during the 3rd quarter valued at $102,000. Valeo Financial Advisors LLC purchased a new position in shares of Fifth Third Bancorp during the 3rd quarter valued at $119,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $148,000. SeaCrest Wealth Management LLC purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $162,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Fifth Third Bancorp by 268.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,456 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 4,706 shares in the last quarter. Hedge funds and other institutional investors own 84.41% of the company’s stock.

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About Fifth Third Bancorp

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

Insider Buying and Selling by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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