Fifth Third Bancorp (NASDAQ:FITB) EVP Kala Gibson Sells 14,857 Shares

Fifth Third Bancorp (NASDAQ:FITB) EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fifth Third Bancorp Stock Up 0.8 %

Shares of FITB traded up $0.30 during trading hours on Monday, hitting $36.55. The company had a trading volume of 5,506,880 shares, compared to its average volume of 5,509,221. The firm has a fifty day moving average price of $35.21 and a 200-day moving average price of $31.89. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.38 and a beta of 1.27. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period in the previous year, the company posted $0.78 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.83%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a research note on Monday. Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. UBS Group reissued a “neutral” rating and set a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. DA Davidson raised their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Stephens reissued an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $36.31.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of Fifth Third Bancorp during the 1st quarter valued at about $29,000. GoalVest Advisory LLC grew its stake in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares during the period. Denali Advisors LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $36,000. Financial Management Professionals Inc. grew its stake in shares of Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,000 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $48,000. 83.79% of the stock is currently owned by institutional investors.

About Fifth Third Bancorp

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.