James C. Leonard Sells 17,200 Shares of Fifth Third Bancorp (NASDAQ:FITB) Stock

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

Fifth Third Bancorp Stock Down 1.7 %

Fifth Third Bancorp stock opened at $42.88 on Friday. 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 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 has a fifty-two week low of $33.03 and a fifty-two week high of $49.07. The stock has a 50-day simple moving average of $43.50 and a 200-day simple moving average of $43.61.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Piper Sandler restated an “overweight” rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Barclays lifted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Citigroup boosted their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and an average target price of $46.75.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds have recently modified their holdings of FITB. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at $25,000. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at $28,000. Venturi Wealth Management LLC raised its holdings in shares of Fifth Third Bancorp by 89.5% in the third 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 last quarter. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $29,000. Finally, Quarry LP purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $29,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.