Fifth Third Bancorp (NASDAQ:FITB) COO James C. Leonard Sells 17,200 Shares

Fifth Third Bancorp (NASDAQ:FITB) COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Fifth Third Bancorp Stock Down 1.7 %

FITB stock opened at $42.88 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50 day simple moving average is $43.50 and its 200-day simple moving average is $43.61. Fifth Third Bancorp has a 12 month low of $33.03 and a 12 month high of $49.07. The firm has a market capitalization of $28.75 billion, a PE ratio of 13.66, a P/E/G ratio of 1.42 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.45%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson increased their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Piper Sandler restated an “overweight” rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Truist Financial increased their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $46.75.

Hedge Funds Weigh In On Fifth Third Bancorp

Institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC acquired a new position in Fifth Third Bancorp in the 3rd quarter valued at about $69,000. Blue Trust Inc. grew its holdings in shares of 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 buying an additional 5,135 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Fifth Third Bancorp by 6.2% in the third quarter. Sequoia Financial Advisors LLC now owns 13,845 shares of the financial services provider’s stock valued at $593,000 after buying an additional 813 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Fifth Third Bancorp by 3.0% during the third quarter. Signaturefd LLC now owns 12,792 shares of the financial services provider’s stock valued at $548,000 after buying an additional 368 shares during the period. Finally, Axecap Investments LLC acquired a new stake in Fifth Third Bancorp during the third quarter worth approximately $2,164,000. 83.79% of the stock is owned by institutional investors and hedge funds.

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.