Fifth Third Bancorp (NASDAQ:FITB) Director Emerson L. Brumback sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $33.44, for a total value of $100,320.00. Following the completion of the sale, the director now owns 53,143 shares of the company’s stock, valued at $1,777,101.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up $0.54 on Friday, reaching $34.21. The company had a trading volume of 3,648,770 shares, compared to its average volume of 4,595,755. The company has a market cap of $23,130.68, a P/E ratio of 12.00, a P/E/G ratio of 1.86 and a beta of 1.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 0.90. Fifth Third Bancorp has a 52-week low of $23.20 and a 52-week high of $34.22.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.58 billion. Fifth Third Bancorp had a return on equity of 9.65% and a net margin of 27.08%. During the same period in the prior year, the business earned $0.49 EPS. equities analysts predict that Fifth Third Bancorp will post 2.3 EPS for the current year.
Fifth Third Bancorp declared that its Board of Directors has approved a share buyback program on Tuesday, February 27th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a report on Friday, December 8th. Zacks Investment Research downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, January 12th. Oppenheimer reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Thursday, December 7th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Fifth Third Bancorp in a report on Sunday, December 10th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.70.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Icon Wealth Partners LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth $101,000. Horan Capital Advisors LLC. acquired a new position in Fifth Third Bancorp during the 3rd quarter worth $102,000. Delpha Capital Management LLC acquired a new position in Fifth Third Bancorp during the fourth quarter valued at $107,000. Valeo Financial Advisors LLC acquired a new position in Fifth Third Bancorp during the third quarter valued at $119,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Fifth Third Bancorp during the fourth quarter valued at $148,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.
About Fifth Third Bancorp
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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