Fifth Third Bancorp (NASDAQ:FITB) EVP Peter Sefzik Sells 20,000 Shares

Key Points

• Insider sale: EVP Peter Sefzik sold 20,000 shares on April 28 at an average price of $50.46 for $1,009,200, cutting his holdings by 9.55% to 189,382 shares (about $9.56M).
• Quarterly results: Fifth Third reported $0.83 EPS versus a -$0.04 consensus and $2.86B in revenue (slightly below expectations), with a net margin of 15.89% and ROE of 12.39%.
• Dividend and outlook: The bank pays a $0.40 quarterly dividend (annualized $1.60, ~3.2% yield) and carries a "Moderate Buy" consensus from analysts with a $57.11 average price target.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) EVP Peter Sefzik sold 20,000 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the transaction, the executive vice president directly owned 189,382 shares in the company, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB traded down $0.52 during mid-day trading on Wednesday, reaching $49.79. The company's stock had a trading volume of 4,318,814 shares, compared to its average volume of 11,119,707. The stock has a 50-day moving average of $48.23 and a two-hundred day moving average of $47.20. The stock has a market capitalization of $45.09 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.05 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a 1-year low of $35.18 and a 1-year high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.87. The business had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period in the prior year, the business earned $0.71 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post 4 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp's dividend payout ratio is 53.69%.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider's stock valued at $3,929,647,000 after acquiring an additional 637,207 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Fifth Third Bancorp by 41.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider's stock valued at $1,664,013,000 after acquiring an additional 10,444,799 shares during the last quarter. Capital World Investors increased its position in shares of Fifth Third Bancorp by 5.6% during the fourth quarter. Capital World Investors now owns 32,549,669 shares of the financial services provider's stock valued at $1,523,650,000 after acquiring an additional 1,719,361 shares during the last quarter. State Street Corp increased its position in shares of Fifth Third Bancorp by 0.3% during the fourth quarter. State Street Corp now owns 31,437,600 shares of the financial services provider's stock valued at $1,484,021,000 after acquiring an additional 101,245 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Fifth Third Bancorp by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,939,023 shares of the financial services provider's stock valued at $1,120,586,000 after acquiring an additional 530,489 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FITB has been the subject of a number of recent research reports. Robert W. Baird increased their target price on shares of Fifth Third Bancorp from $55.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Weiss Ratings upgraded shares of Fifth Third Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 26th. Evercore increased their target price on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research report on Tuesday, April 21st. The Goldman Sachs Group increased their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $57.11.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

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