Kevin P. Lavender Sells 21,700 Shares of Fifth Third Bancorp (NASDAQ:FITB) Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $42.88 on Friday. Fifth Third Bancorp has a 1 year low of $33.03 and a 1 year high of $49.07. The firm’s 50 day moving average is $43.50 and its 200-day moving average is $43.61. The firm has a market capitalization of $28.75 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.42 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The business also recently announced 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. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. Fifth Third Bancorp’s payout ratio is 47.13%.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of large investors have recently modified their holdings of the stock. OneDigital Investment Advisors LLC lifted its position in shares of Fifth Third Bancorp by 1.1% during the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in Fifth Third Bancorp by 7.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock valued at $143,000 after buying an additional 232 shares during the period. Eads & Heald Wealth Management lifted its holdings in Fifth Third Bancorp by 3.0% in the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock valued at $347,000 after buying an additional 235 shares during the period. Valley National Advisers Inc. lifted its holdings in Fifth Third Bancorp by 3.6% in the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock valued at $285,000 after buying an additional 236 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Fifth Third Bancorp by 4.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after buying an additional 246 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. DA Davidson upped their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods upped their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Citigroup upped their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays upped their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $46.75.

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.