Fifth Third Bank (NASDAQ:FITB) EVP Jelena Mcwilliams sold 568 shares of the firm’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $33.84, for a total transaction of $19,221.12. Following the completion of the sale, the executive vice president now owns 6,034 shares of the company’s stock, valued at approximately $204,190.56. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Jelena Mcwilliams also recently made the following trade(s):
- On Wednesday, February 14th, Jelena Mcwilliams sold 1,952 shares of Fifth Third Bank stock. The shares were sold at an average price of $33.01, for a total transaction of $64,435.52.
Shares of Fifth Third Bank (FITB) traded up $0.02 during midday trading on Tuesday, reaching $33.64. 1,766,099 shares of the company were exchanged, compared to its average volume of 5,136,165. The firm has a market capitalization of $23,165.03, a PE ratio of 11.80, 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 Bank has a 52-week low of $23.20 and a 52-week high of $34.57.
Fifth Third Bank (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Fifth Third Bank had a net margin of 27.08% and a return on equity of 9.65%. During the same quarter in the previous year, the company earned $0.49 earnings per share. analysts forecast that Fifth Third Bank will post 2.3 EPS for the current year.
Fifth Third Bank declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 27th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 28th. Fifth Third Bank’s payout ratio is currently 22.46%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its stake in Fifth Third Bank by 16.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 46,996 shares of the financial services provider’s stock valued at $1,426,000 after buying an additional 6,755 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in Fifth Third Bank by 3.7% in the fourth quarter. Xact Kapitalforvaltning AB now owns 165,417 shares of the financial services provider’s stock valued at $5,019,000 after buying an additional 5,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Fifth Third Bank by 79.7% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 732,251 shares of the financial services provider’s stock valued at $22,216,000 after buying an additional 324,839 shares in the last quarter. Probabilities Fund Management LLC bought a new position in Fifth Third Bank in the fourth quarter valued at approximately $333,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Fifth Third Bank by 38.8% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 51,560 shares of the financial services provider’s stock valued at $1,564,000 after buying an additional 14,400 shares in the last quarter. 84.57% of the stock is currently owned by hedge funds and other institutional investors.
FITB has been the subject of several research reports. Oppenheimer restated a “hold” rating on shares of Fifth Third Bank in a research report on Thursday, December 7th. Royal Bank of Canada restated a “buy” rating on shares of Fifth Third Bank in a research report on Sunday, December 10th. BMO Capital Markets restated a “hold” rating and issued a $32.00 price objective on shares of Fifth Third Bank in a research report on Friday, December 8th. Morgan Stanley lifted their price target on shares of Fifth Third Bank from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, BidaskClub cut shares of Fifth Third Bank from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $30.70.
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Fifth Third Bank Company Profile
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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