Fifth Third Bancorp (NASDAQ:FITB) COO James C. Leonard Sells 17,200 Shares of Stock

Fifth Third Bancorp (NASDAQ:FITB) COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Fifth Third Bancorp Trading Down 1.7 %

Shares of FITB stock opened at $42.88 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average price of $43.55 and a two-hundred day moving average price of $43.58. Fifth Third Bancorp has a 12-month low of $33.03 and a 12-month high of $49.07. The firm has a market cap of $28.75 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

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

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds have recently added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth about $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC lifted its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the last quarter. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Finally, Quarry LP bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FITB. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup lifted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One research 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.com, the company currently has an average rating of “Hold” and a consensus price target of $46.75.

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.