Jude Schramm Sells 5,000 Shares of Fifth Third Bancorp (NASDAQ:FITB) Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. 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 $36.74 on Thursday. The business has a 50-day moving average of $34.69 and a 200 day moving average of $30.68. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.36. The stock has a market capitalization of $25.03 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same period last year, the business posted $1.04 EPS. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.16 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 43.34%.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of hedge funds have recently bought and sold shares of FITB. Fairfield Bush & CO. raised its position in Fifth Third Bancorp by 1.4% in the 1st quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider’s stock valued at $1,570,000 after purchasing an additional 502 shares in the last quarter. Aviva PLC raised its position in Fifth Third Bancorp by 22.0% in the 1st quarter. Aviva PLC now owns 255,764 shares of the financial services provider’s stock valued at $11,008,000 after purchasing an additional 46,064 shares in the last quarter. Prudential PLC acquired a new stake in Fifth Third Bancorp in the 1st quarter valued at about $754,000. Cetera Investment Advisers raised its position in Fifth Third Bancorp by 13.0% in the 1st quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider’s stock valued at $2,365,000 after purchasing an additional 6,341 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Fifth Third Bancorp by 60.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider’s stock worth $5,224,000 after acquiring an additional 45,910 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FITB shares. Royal Bank of Canada raised their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Barclays raised their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Morgan Stanley raised their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Stephens reaffirmed an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Finally, The Goldman Sachs Group increased their price target on Fifth Third Bancorp from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $35.30.

About Fifth Third Bancorp

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.