Insider Selling: Fifth Third Bancorp (NASDAQ:FITB) EVP Sells $945,035.00 in Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fifth Third Bancorp Trading Down 1.7 %

Shares of Fifth Third Bancorp stock opened at $42.88 on Monday. Fifth Third Bancorp has a 1 year low of $33.03 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $28.75 billion, a P/E ratio of 13.66, a PEG ratio of 1.42 and a beta of 1.23. The company’s fifty day moving average is $43.50 and its two-hundred day moving average is $43.67.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed 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 of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 47.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FITB shares. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Citigroup increased their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. DA Davidson increased their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Truist Financial increased their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.75.

Institutional Trading of Fifth Third Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in FITB. Exchange Traded Concepts LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $69,000. Blue Trust Inc. boosted its holdings in shares of Fifth Third Bancorp by 318.2% in the third quarter. Blue Trust Inc. now owns 6,749 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 5,135 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings 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 acquiring an additional 813 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Fifth Third Bancorp by 3.0% in the third quarter. Signaturefd LLC now owns 12,792 shares of the financial services provider’s stock valued at $548,000 after acquiring an additional 368 shares in the last quarter. Finally, Axecap Investments LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $2,164,000. Hedge funds and other institutional investors 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.