Insider Selling: Fifth Third Bancorp (FITB) Director Sells 3,700 Shares of Stock

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.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 22.46%.

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.

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

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