Fifth Third Bancorp (NASDAQ:FITB) Trading Up 0.6%

Fifth Third Bancorp (NASDAQ:FITB) was up 0.6% during mid-day trading on Monday . The company traded as high as $37.99 and last traded at $37.79. Approximately 524,785 shares changed hands during trading, a decline of 90% from the average daily volume of 5,265,754 shares. The stock had previously closed at $37.56.

Analyst Upgrades and Downgrades

Several research firms recently commented on FITB. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $37.50 to $39.50 in a research note on Wednesday, May 1st. Morgan Stanley restated an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Robert W. Baird reissued a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 1st. UBS Group reissued a “neutral” rating and set a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Finally, Evercore ISI raised their price objective on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Stock Performance

The stock has a market capitalization of $26.21 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.42 and a beta of 1.24. The company’s 50-day moving average is $36.05 and its two-hundred day moving average is $32.95. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm earned $0.78 EPS. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.22 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares in the company, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The disclosure for this sale can be found here. Insiders have sold a total of 48,857 shares of company stock valued at $1,787,638 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of FITB. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp in the first quarter worth $29,000. GoalVest Advisory LLC raised its stake in Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares during the last quarter. Denali Advisors LLC acquired a new position in Fifth Third Bancorp during the 4th quarter valued at $36,000. Financial Management Professionals Inc. raised its stake in Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new position in Fifth Third Bancorp during the 3rd quarter valued at $46,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.