Fifth Third Bancorp (NASDAQ:FITB) CAO Teresa J. Tanner sold 55,600 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $27.47, for a total transaction of $1,527,332.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of FITB traded up $0.20 during mid-day trading on Friday, reaching $28.03. The stock had a trading volume of 4,430,771 shares, compared to its average volume of 6,928,665. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Fifth Third Bancorp has a 52-week low of $22.12 and a 52-week high of $34.67. The firm has a market capitalization of $18.05 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.30 and a beta of 1.36.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 2.77 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of FITB. SRS Capital Advisors Inc. lifted its position in Fifth Third Bancorp by 82.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after buying an additional 487 shares during the last quarter. Whitnell & Co. acquired a new position in Fifth Third Bancorp in the first quarter valued at about $28,000. Guidant Wealth Advisors acquired a new position in Fifth Third Bancorp in the first quarter valued at about $29,000. Mizuho Securities Co. Ltd. acquired a new position in Fifth Third Bancorp in the first quarter valued at about $38,000. Finally, JOYN Advisors Inc. lifted its position in Fifth Third Bancorp by 38.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after buying an additional 480 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 26th. BMO Capital Markets upped their target price on shares of Fifth Third Bancorp from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. They noted that the move was a valuation call. UBS Group upped their target price on shares of Fifth Third Bancorp from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Barclays upped their target price on shares of Fifth Third Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $31.67.
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.
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