Fifth Third Bancorp (NASDAQ:FITB) EVP Sells $945,035.00 in Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % 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 Stock Performance

FITB stock traded down $0.73 during trading on Friday, reaching $42.88. The company had a trading volume of 4,726,728 shares, compared to its average volume of 4,598,348. Fifth Third Bancorp has a twelve month low of $33.03 and a twelve month high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $28.75 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The firm has a 50-day simple moving average of $43.55 and a 200-day simple moving average of $43.58.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Institutional Investors Weigh In On Fifth Third Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC grew its stake in Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after acquiring an additional 34,203 shares during the period. QRG Capital Management Inc. boosted its stake in Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in Fifth Third Bancorp during the 4th quarter worth $9,878,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Fifth Third Bancorp by 13.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock worth $19,776,000 after purchasing an additional 55,081 shares during the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in Fifth Third Bancorp during the 4th quarter worth $423,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of recent research reports. Truist Financial upped their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Company Profile

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.