Fifth Third Bancorp (FITB) CAO Sells $1,527,332.00 in Stock

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.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Thursday, March 28th. Fifth Third Bancorp’s dividend payout ratio is currently 34.65%.

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.

WARNING: This news story was published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.baseballdailydigest.com/news/2019/05/11/teresa-j-tanner-sells-55600-shares-of-fifth-third-bancorp-fitb-stock.html.

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: Green Investing

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.