Jude Schramm Sells 2,500 Shares of Fifth Third Bancorp (NASDAQ:FITB) Stock

Fifth Third Bancorp (NASDAQ:FITB) EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Jude Schramm also recently made the following trade(s):

• On Monday, March 25th, Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00.

Fifth Third Bancorp Price Performance

NASDAQ FITB traded down $0.21 on Thursday, reaching $36.89. The company’s stock had a trading volume of 5,324,724 shares, compared to its average volume of 5,336,909. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.67. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $25.12 billion, a PE ratio of 11.71, a PEG ratio of 1.38 and a beta of 1.24. The firm’s 50 day moving average is $35.72 and its two-hundred day moving average is $32.53.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio is 44.44%.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of large investors have recently made changes to their positions in FITB. Capital World Investors increased its holdings in shares of Fifth Third Bancorp by 34.2% in the 4th quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock valued at $1,416,985,000 after purchasing an additional 10,472,392 shares during the period. Norges Bank acquired a new position in Fifth Third Bancorp in the fourth quarter worth approximately $257,189,000. Boston Partners increased its holdings in Fifth Third Bancorp by 32.1% in the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock worth $331,188,000 after buying an additional 3,176,903 shares during the last quarter. Smead Capital Management Inc. acquired a new position in Fifth Third Bancorp in the fourth quarter worth approximately $67,354,000. Finally, Invesco Ltd. increased its holdings in Fifth Third Bancorp by 8.4% in the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after buying an additional 1,500,653 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analysts Set New Price Targets

FITB has been the subject of several recent research reports. Robert W. Baird restated a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Morgan Stanley restated an “equal weight” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Evercore ISI upped their price objective on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus price target of $36.50.

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.