Fifth Third Bancorp (NASDAQ:FITB) EVP James C. Leonard sold 35,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $33.80, for a total transaction of $1,183,000.00. Following the sale, the executive vice president now owns 101,091 shares in the company, valued at approximately $3,416,875.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Fifth Third Bancorp (FITB) traded up $0.58 during mid-day trading on Friday, hitting $33.45. 2,980,419 shares of the stock were exchanged, compared to its average volume of 5,379,518. Fifth Third Bancorp has a twelve month low of $23.20 and a twelve month high of $33.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market capitalization of $23,200.84, a P/E ratio of 11.74, a P/E/G ratio of 1.85 and a beta of 1.36.
Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company earned $0.49 earnings per share. research analysts forecast that Fifth Third Bancorp will post 2.3 EPS for the current fiscal year.
A number of research firms have recently issued reports on FITB. BidaskClub upgraded shares of Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Vining Sparks reiterated a “buy” rating and set a $35.00 price objective on shares of Fifth Third Bancorp in a research note on Sunday, January 28th. Morgan Stanley lifted their price objective on shares of Fifth Third Bancorp from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $35.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, January 24th. Finally, Bank of America lifted their price objective on shares of Fifth Third Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $30.70.
Hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. grew its position in shares of Fifth Third Bancorp by 19.7% during the third quarter. Advisor Group Inc. now owns 36,589 shares of the financial services provider’s stock worth $1,024,000 after buying an additional 6,033 shares in the last quarter. Pegasus Partners Ltd. boosted its holdings in Fifth Third Bancorp by 69.5% in the third quarter. Pegasus Partners Ltd. now owns 186,989 shares of the financial services provider’s stock worth $5,232,000 after purchasing an additional 76,647 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in Fifth Third Bancorp by 14.4% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 992,727 shares of the financial services provider’s stock worth $27,777,000 after purchasing an additional 125,124 shares during the period. Korea Investment CORP boosted its holdings in Fifth Third Bancorp by 2.2% in the third quarter. Korea Investment CORP now owns 269,823 shares of the financial services provider’s stock worth $7,550,000 after purchasing an additional 5,700 shares during the period. Finally, Hellman Jordan Management Co. Inc. MA acquired a new position in Fifth Third Bancorp in the third quarter worth $614,000. 84.01% of the stock is owned by institutional investors and hedge funds.
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Fifth Third Bancorp Company Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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