Insider Selling: Fifth Third Bancorp (NASDAQ:FITB) COO Sells 17,200 Shares of Stock

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

Fifth Third Bancorp Stock Down 1.7 %

FITB stock opened at $42.88 on Monday. The firm has a market cap of $28.75 billion, a PE ratio of 13.66, a PEG ratio of 1.42 and a beta of 1.23. 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 firm’s 50 day moving average price is $43.50 and its 200-day moving average price is $43.67. Fifth Third Bancorp has a one year low of $33.03 and a one year high of $49.07.

Fifth Third Bancorp Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on FITB shares. Citigroup lifted their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. DA Davidson lifted their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.75.

Institutional Trading of Fifth Third Bancorp

Institutional investors have recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $25,000. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC raised its position in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the period. BankPlus Trust Department purchased a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. Finally, Quarry LP purchased a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. 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.