Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm Sells 20,000 Shares

Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares of the company’s stock, valued at $4,805,724. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Jude Schramm also recently made the following trade(s):

• On Tuesday, July 16th, Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock. The stock was sold at an average price of $40.00, for a total value of $100,000.00.

Fifth Third Bancorp Stock Down 0.0 %

Shares of NASDAQ:FITB opened at $42.19 on Friday. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $42.91. The company has a market capitalization of $28.86 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The company has a fifty day moving average of $39.29 and a 200-day moving average of $37.19.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $0.87 EPS. On average, equities analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 3.32%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Fifth Third Bancorp during the first quarter valued at $29,000. American Capital Advisory LLC acquired a new stake in Fifth Third Bancorp in the second quarter valued at $34,000. Centerpoint Advisors LLC raised its position in Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 750 shares during the last quarter. Family Firm Inc. acquired a new position in Fifth Third Bancorp during the 2nd quarter worth about $52,000. Finally, Blue Trust Inc. lifted its holdings in Fifth Third Bancorp by 130.6% during the 2nd quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock worth $60,000 after buying an additional 914 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on FITB shares. Evercore ISI lowered their price target on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Bank of America raised their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Argus boosted their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada raised their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley increased their target price on Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.56.

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.