Fifth Third Bancorp (NASDAQ:FITB) Director Jewell D. Hoover sold 3,700 shares of Fifth Third Bancorp stock in a transaction on Monday, February 12th. The stock was sold at an average price of $32.40, for a total value of $119,880.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Fifth Third Bancorp (FITB) traded up $0.14 on Wednesday, reaching $32.39. The company’s stock had a trading volume of 3,291,800 shares, compared to its average volume of 5,462,564. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $33.91. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market capitalization of $22,850.00, a price-to-earnings ratio of 11.50, a PEG ratio of 2.11 and a beta of 1.36.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a return on equity of 9.65% and a net margin of 27.08%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. equities research analysts expect that Fifth Third Bancorp will post 2.28 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Icon Wealth Partners LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $101,000. Delpha Capital Management LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $107,000. Horan Capital Advisors LLC. acquired a new position in Fifth Third Bancorp in the third quarter valued at approximately $102,000. Valeo Financial Advisors LLC acquired a new position in Fifth Third Bancorp in the third quarter valued at approximately $119,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $148,000. 84.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on FITB. BidaskClub raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. BMO Capital Markets reissued a “hold” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a report on Friday, December 8th. Oppenheimer reissued a “hold” rating on shares of Fifth Third Bancorp in a report on Thursday, December 7th. Zacks Investment Research downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 12th. Finally, Nomura boosted their price target on Fifth Third Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $30.70.
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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.
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