Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm Sells 2,250 Shares of Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president directly owned 129,191 shares in the company, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Fifth Third Bancorp Price Performance

FITB traded down $0.32 during trading on Monday, hitting $47.83. 10,520,984 shares of the stock traded hands, compared to its average volume of 5,630,560. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $31.62 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.98 and a beta of 0.99. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $48.71. The business has a 50 day moving average price of $43.07 and a 200 day moving average price of $42.83.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. The firm had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%. Equities research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.76%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada upped their price target on shares of Fifth Third Bancorp from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday. Wall Street Zen upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Evercore ISI cut their price objective on shares of Fifth Third Bancorp from $49.00 to $47.00 in a research report on Thursday, October 30th. Morgan Stanley set a $60.00 price objective on Fifth Third Bancorp and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Finally, Jefferies Financial Group increased their price target on Fifth Third Bancorp from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average target price of $51.20.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Wealthquest Corp boosted its holdings in shares of Fifth Third Bancorp by 2.3% in the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 244 shares in the last quarter. Tiemann Investment Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 3.9% in the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after buying an additional 250 shares during the period. Capital Investment Advisory Services LLC boosted its holdings in Fifth Third Bancorp by 1.1% during the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 251 shares in the last quarter. CENTRAL TRUST Co grew its holdings in shares of Fifth Third Bancorp by 4.1% during the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 260 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in Fifth Third Bancorp by 11.9% during the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 263 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

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.