Fifth Third Bancorp (NASDAQ:FITB) EVP Kevin P. Lavender Sells 21,700 Shares

Fifth Third Bancorp (NASDAQ:FITB) EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $42.88 on Friday. The firm has a market cap of $28.75 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The firm’s 50-day simple moving average is $43.55 and its 200-day simple moving average is $43.58. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a 1 year low of $33.03 and a 1 year high of $49.07.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FITB. Barclays upped their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.75.

Institutional Investors Weigh In On Fifth Third Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of FITB. Exchange Traded Concepts LLC acquired a new stake in Fifth Third Bancorp during the third quarter worth about $69,000. Blue Trust Inc. raised its stake in Fifth Third Bancorp by 318.2% during the third quarter. Blue Trust Inc. now owns 6,749 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 5,135 shares during the period. Sequoia Financial Advisors LLC raised its stake in Fifth Third Bancorp by 6.2% during the third quarter. Sequoia Financial Advisors LLC now owns 13,845 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 813 shares during the period. Signaturefd LLC raised its stake in Fifth Third Bancorp by 3.0% during the third quarter. Signaturefd LLC now owns 12,792 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 368 shares during the period. Finally, Axecap Investments LLC acquired a new stake in Fifth Third Bancorp during the third quarter worth about $2,164,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.