Fifth Third Bancorp (NASDAQ:FITB) EVP James C. Leonard sold 35,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $33.80, for a total transaction of $1,183,000.00. Following the transaction, the executive vice president now directly owns 101,091 shares of the company’s stock, valued at approximately $3,416,875.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Fifth Third Bancorp (FITB) traded up $0.58 during trading on Friday, reaching $33.45. 3,004,261 shares of the company’s stock were exchanged, compared to its average volume of 5,260,000. The firm has a market cap of $24,020.00, a price-to-earnings ratio of 13.17, a PEG ratio of 1.81 and a beta of 1.36. Fifth Third Bancorp has a 12 month low of $23.20 and a 12 month high of $33.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 0.90.
Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.58 billion. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. During the same period in the prior year, the business earned $0.49 EPS. analysts predict that Fifth Third Bancorp will post 2.3 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its holdings in Fifth Third Bancorp by 19.7% during the 3rd 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. raised its holdings in shares of Fifth Third Bancorp by 69.5% in the 3rd quarter. Pegasus Partners Ltd. now owns 186,989 shares of the financial services provider’s stock valued at $5,232,000 after purchasing an additional 76,647 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Fifth Third Bancorp by 14.4% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 992,727 shares of the financial services provider’s stock valued at $27,777,000 after purchasing an additional 125,124 shares in the last quarter. Korea Investment CORP raised its holdings in shares of Fifth Third Bancorp by 2.2% in the 3rd quarter. Korea Investment CORP now owns 269,823 shares of the financial services provider’s stock valued at $7,550,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Hellman Jordan Management Co. Inc. MA acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at $614,000. Institutional investors own 84.01% of the company’s stock.
FITB has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Macquarie cut shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $28.47 to $26.00 in a research report on Friday, November 17th. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Oppenheimer reaffirmed a “hold” rating on shares of Fifth Third Bancorp in a research report on Thursday, December 7th. Finally, Barclays increased their price objective on shares of Fifth Third Bancorp from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $30.70.
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About Fifth Third Bancorp
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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