Insider Selling: Fifth Third Bancorp (NASDAQ:FITB) COO Sells $761,272.00 in Stock

Fifth Third Bancorp (NASDAQ:FITB) COO James C. Leonard sold 17,200 shares of the stock in a transaction on 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 directly owns 244,487 shares in the company, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $42.88 on Monday. The stock has a 50-day simple moving average of $43.50 and a two-hundred day simple moving average of $43.67. The firm 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. Fifth Third Bancorp has a fifty-two week low of $33.03 and a fifty-two week 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.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid 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 currently 47.13%.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of institutional investors have recently modified their holdings of FITB. Exchange Traded Concepts LLC purchased a new position in shares of Fifth Third Bancorp during the 3rd quarter valued at about $69,000. Blue Trust Inc. raised its stake in shares of Fifth Third Bancorp by 318.2% during the 3rd quarter. Blue Trust Inc. now owns 6,749 shares of the financial services provider’s stock valued at $289,000 after buying an additional 5,135 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Fifth Third Bancorp by 6.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,845 shares of the financial services provider’s stock valued at $593,000 after buying an additional 813 shares during the last quarter. Signaturefd LLC grew its position in shares of Fifth Third Bancorp by 3.0% during the 3rd 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 during the period. Finally, Axecap Investments LLC acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $2,164,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FITB shares. Truist Financial increased their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler reiterated an “overweight” rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Barclays increased their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.