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Kevin P. Lavender, Executive Vice President at Fifth Third Bancorp (NASDAQ:FITB), a $28.7 billion market cap bank trading at a P/E of 13.6x, recently sold shares valued at approximately $945,100. The transaction took place on February 20, 2025, involving the sale of 21,700 shares at a weighted average price of $43.553 per share, slightly above the current trading price of $42.88. Following this sale, Lavender’s direct ownership stands at 130,856 shares.
Additionally, on February 19, 2025, Lavender acquired shares through two separate transactions. The first involved the acquisition of 18,399 shares as part of a restricted stock unit grant, while the second saw the acquisition of 21,552 shares through a performance share award. Both of these acquisitions were part of Fifth Third Bancorp’s Incentive Compensation Plan and did not require any consideration. The bank has maintained dividend payments for 50 consecutive years, currently offering a 3.4% yield.
On the same day, Lavender also had 8,824 shares withheld to cover taxes upon the vesting of performance shares, at a price of $44.06 per share, totaling approximately $388,785. According to InvestingPro, Fifth Third Bancorp shows a FAIR overall financial health score, with analysts predicting continued profitability this year. Get access to 8 more exclusive ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Fifth Third Bancorp reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share reaching $0.90, slightly above the consensus estimate of $0.88. Revenue was $2.18 billion, just below the anticipated $2.21 billion. The bank’s net interest income rose by 1% sequentially to $1.44 billion, supported by loan growth and an improved net interest margin of 2.97%. Piper Sandler adjusted its outlook on Fifth Third Bancorp by lowering the price target to $53 while maintaining an Overweight rating, reflecting a conservative valuation approach despite strong quarterly results. Truist Securities, on the other hand, increased its price target to $52, citing confidence in the bank’s future earnings and growth potential. Truist also maintained a Buy rating with a previous target of $51, highlighting Fifth Third’s growth prospects and strategic investments. The bank’s loan growth projections for 2025 are estimated at 3-4%, surpassing many peers, with an emphasis on strong balance sheet capacity. These developments indicate a positive outlook for Fifth Third Bancorp, supported by favorable earnings projections and strategic financial management.
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