November 23, 2016 - By Marguerite Chambers
Executive Vice President, Philip Mchugh is the Fifth Third Bancorp’s insider that sold shares of Fifth Third Bancorp, 29,777 to be exact. The shares were based on an average share price of $25.7, with the insider trading deal worth $764,673 US Dollars. The dated November 22, 2016 transaction’s document submitted with the Security Exchange Commission is freely available for review here. Today, Philip Mchugh owns 156,424 shares or 0.02% of the Company’s market cap (total dollar market value of all company’s outstanding shares).
Out of 26 analysts covering Fifth Third (NASDAQ:FITB), 5 rate it a “Buy”, 2 “Sell”, while 19 “Hold”. This means 19% are positive. $25 is the highest target while $16 is the lowest. The $21.38 average target is -18.21% below today’s ($26.14) stock price. Fifth Third has been the topic of 46 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Friday, January 22, the company rating was maintained by Oppenheimer. Sterne Agee CRT downgraded the stock to “Neutral” rating in Wednesday, April 6 report. On Wednesday, October 21 the stock rating was maintained by Oppenheimer with “Outperform”. On Thursday, April 7 the stock rating was maintained by JP Morgan with “Neutral”. As per Wednesday, October 21, the company rating was maintained by RBC Capital Markets. The firm has “Overweight” rating given on Tuesday, March 8 by Stephens. On Friday, November 18 the stock rating was downgraded by Compass Point to “Neutral”. The firm earned “Perform” rating on Wednesday, July 6 by Oppenheimer. As per Monday, June 6, the company rating was maintained by Citigroup. Jefferies maintained the shares of FITB in a report on Friday, May 27 with “Buy” rating.
Insitutional Activity: The institutional sentiment decreased to 0.69 in Q2 2016. Its down 0.19, from 0.88 in 2016Q1. The ratio fall, as 45 funds sold all Fifth Third Bancorp shares owned while 206 reduced positions. 47 funds bought stakes while 174 increased positions. They now own 598.84 million shares or 1.34% less from 606.99 million shares in 2016Q1.
Ftb Advisors last reported 0.02% of its portfolio in the stock. Brandes Invest Prtnrs Ltd Partnership has invested 0.14% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Moreover, South Dakota Investment Council has 0.02% invested in Fifth Third Bancorp (NASDAQ:FITB) for 53,700 shares. Argyle Mgmt Inc last reported 0.37% of its portfolio in the stock. Cap Financial Advisers Ltd Liability Company accumulated 81,146 shares or 0.01% of the stock. Everence Cap Management Inc reported 17,834 shares or 0.1% of all its holdings. Fund Evaluation Group Inc Ltd holds 10,450 shares or 0.03% of its portfolio. Reliance Trust Company Of Delaware last reported 24,281 shares in the company. Algebris Invs (Uk) Limited Liability Partnership accumulated 298,363 shares or 0.89% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 268,754 shares. Sadoff Investment Mgmt Ltd has 2.33% invested in the company for 1.11M shares. Boston Private Wealth Llc holds 0.02% or 31,977 shares in its portfolio. Ontario Teachers Pension Plan Board owns 121,454 shares or 0.02% of their US portfolio. Amica Mutual Insur has 41,315 shares for 0.07% of their US portfolio. Panagora Asset Mgmt reported 1.76M shares or 0.15% of all its holdings.
Insider Transactions: Since November 10, 2016, the stock had 0 buys, and 6 selling transactions for $3.36 million net activity. Borton Chad M also sold $496,341 worth of Fifth Third Bancorp (NASDAQ:FITB) shares. Leonard James C. had sold 21,708 shares worth $510,355 on Thursday, November 10. 17,689 shares were sold by CARMICHAEL GREG D, worth $414,807. Shares for $578,750 were sold by Spence Timothy. Another trade for 18,072 shares valued at $430,547 was made by Forrest Frank R. on Thursday, November 10.
The stock increased 1.12% or $0.29 during the last trading session, hitting $26.14. About 9.33 million shares traded hands or 2.75% up from the average. Fifth Third Bancorp (NASDAQ:FITB) has risen 41.07% since April 21, 2016 and is uptrending. It has outperformed by 35.74% the S&P500.
Fifth Third Bancorp is a bank holding firm and a financial holding company. The company has a market cap of $19.88 billion. The Firm 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. It has a 11.65 P/E ratio. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors.
According to Zacks Investment Research, “Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial, retail and trust banking, data processing services, investment advisory services and leasing activities. In addition, the company provides credit life, accident, health and mortgage insurance, discount brokerage services and property management for its properties.”
More recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: Businesswire.com which released: “Fifth Third Bancorp Announces Net Exercise of Vantiv Warrant and Associated ..” on November 22, 2016. Also Nasdaq.com published the news titled: “Strategy To YieldBoost Fifth Third Bancorp From 2% To 12.9% Using Options” on November 22, 2016. Nasdaq.com‘s news article titled: “Fifth Third Bancorp Reaches Analyst Target Price” with publication date: November 08, 2016 was also an interesting one.
Fifth Third Bancorp, incorporated on October 7, 1974, is a bank holding firm and a financial holding company. The Firm 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. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. The Firm diversifies its loan and lease portfolio by offering a range of loan and lease products with various payment terms and rate structures. It offers commercial and industrial loans, commercial mortgage loans, commercial construction loans, commercial leases, residential mortgage loans, home equity, automobile loans, credit card, and other consumer loans and leases. The Firm offers various types of deposits, such as demand deposits, interest checking deposits, savings deposits, money market deposits, transaction deposits and other time deposits. The Company’s total deposits are approximately $103 billion. The Company’s total loans are approximately $93 billion.
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