Fifth Third Bancorp (NASDAQ:FITB) CEO Greg D. Carmichael Sells 50,000 Shares of Stock

Fifth Third Bancorp (NASDAQ:FITBGet 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:FITBGet 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.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Thursday, March 31st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, March 30th. Fifth Third Bancorp’s dividend payout ratio is presently 32.09%.

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.

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Insider Buying and Selling by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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