Fifth Third Bancorp (NASDAQ:FITB – Get Rating) CEO Greg D. Carmichael sold 50,000 shares of the business’s stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $40.05, for a total value of $2,002,500.00. Following the transaction, the chief executive officer now directly owns 644,745 shares of the company’s stock, valued at $25,822,037.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
FITB opened at $38.43 on Friday. The business has a 50 day moving average price of $44.26 and a two-hundred day moving average price of $44.71. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.59. The company has a market cap of $26.27 billion, a PE ratio of 10.28, a P/E/G ratio of 1.34 and a beta of 1.29. Fifth Third Bancorp has a 52 week low of $34.35 and a 52 week high of $50.64.
Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last posted its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). Fifth Third Bancorp had a net margin of 33.25% and a return on equity of 13.55%. During the same period in the previous year, the company earned $0.93 EPS. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.53 EPS for the current fiscal year.
Several research analysts recently commented on the company. Wolfe Research cut Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $59.00 to $47.00 in a research note on Thursday, April 7th. Citigroup reaffirmed a “neutral” rating on shares of Fifth Third Bancorp in a research report on Thursday, March 24th. Robert W. Baird cut Fifth Third Bancorp from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research report on Friday, January 7th. UBS Group assumed coverage on Fifth Third Bancorp in a research report on Wednesday, January 12th. They set a “buy” rating and a $56.00 price objective for the company. Finally, StockNews.com assumed coverage on Fifth Third Bancorp in a research report on Thursday, March 31st. They set a “hold” rating for the company. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.75.
A number of institutional investors and hedge funds have recently bought and sold shares of FITB. Allspring Global Investments Holdings LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter valued at approximately $282,824,000. Norges Bank purchased a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $251,003,000. Capital World Investors raised its stake in shares of Fifth Third Bancorp by 8.1% during the 3rd quarter. Capital World Investors now owns 25,255,471 shares of the financial services provider’s stock worth $1,071,842,000 after buying an additional 1,884,871 shares in the last quarter. Millennium Management LLC raised its stake in shares of Fifth Third Bancorp by 5,766.7% during the 4th quarter. Millennium Management LLC now owns 1,913,415 shares of the financial services provider’s stock worth $83,329,000 after buying an additional 1,880,800 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Fifth Third Bancorp by 100.5% during the 3rd quarter. Nordea Investment Management AB now owns 2,162,020 shares of the financial services provider’s stock worth $93,312,000 after buying an additional 1,083,582 shares in the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.
Fifth Third Bancorp Company Profile (Get Rating)
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
- Get a free copy of the StockNews.com research report on Fifth Third Bancorp (FITB)
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