Insider Selling: Fifth Third Bancorp (FITB) CAO Sells 2,918 Shares of Stock

Fifth Third Bancorp (NASDAQ:FITB) CAO Teresa J. Tanner sold 2,918 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $28.75, for a total value of $83,892.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Teresa J. Tanner also recently made the following trade(s):

  • On Monday, April 15th, Teresa J. Tanner sold 55,600 shares of Fifth Third Bancorp stock. The stock was sold at an average price of $27.47, for a total value of $1,527,332.00.

Shares of NASDAQ:FITB opened at $28.98 on Friday. Fifth Third Bancorp has a 1 year low of $22.12 and a 1 year high of $34.67. The company has a market cap of $18.80 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.35 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Fifth Third Bancorp had a return on equity of 11.77% and a net margin of 26.80%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.57 EPS. Sell-side analysts expect that Fifth Third Bancorp will post 2.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.04%. The ex-dividend date was Thursday, March 28th. Fifth Third Bancorp’s dividend payout ratio is currently 34.65%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Department MB Financial Bank N A acquired a new position in Fifth Third Bancorp in the 1st quarter valued at $10,833,000. Legal & General Group Plc raised its stake in Fifth Third Bancorp by 4.1% in the 3rd quarter. Legal & General Group Plc now owns 3,362,439 shares of the financial services provider’s stock valued at $93,883,000 after purchasing an additional 131,059 shares during the last quarter. Sanders Capital LLC raised its stake in Fifth Third Bancorp by 59.6% in the 4th quarter. Sanders Capital LLC now owns 17,818,885 shares of the financial services provider’s stock valued at $468,179,000 after purchasing an additional 6,653,168 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Fifth Third Bancorp by 0.7% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,256,200 shares of the financial services provider’s stock valued at $29,558,000 after purchasing an additional 9,200 shares during the last quarter. Finally, Advisor Partners LLC raised its stake in Fifth Third Bancorp by 14.4% in the 4th quarter. Advisor Partners LLC now owns 27,926 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 3,507 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have commented on FITB shares. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday, January 8th. Citigroup upgraded Fifth Third Bancorp from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $37.00 to $29.00 in a research report on Wednesday, January 9th. BidaskClub upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Vining Sparks reiterated a “buy” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, January 22nd. Finally, ValuEngine upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $31.67.

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About Fifth Third Bancorp

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

See Also: Growth Stocks

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