Fifth Third Bancorp (NASDAQ:FITB) Shares Up 0.5%

Shares of Fifth Third Bancorp (NASDAQ:FITB) were up 0.5% on Monday . The stock traded as high as $37.12 and last traded at $37.08. Approximately 517,377 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 5,339,919 shares. The stock had previously closed at $36.90.

Analyst Ratings Changes

FITB has been the subject of several analyst reports. Robert W. Baird restated a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Royal Bank of Canada boosted their target price on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. UBS Group reaffirmed a “neutral” rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Stephens reaffirmed an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.31.

Fifth Third Bancorp Stock Up 0.1 %

The firm has a 50 day moving average price of $35.54 and a 200-day moving average price of $32.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $25.14 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The company had revenue of $3.32 billion for 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 quarter last year, the firm earned $0.78 EPS. As a group, equities analysts predict that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 44.44%.

Insider Activity

In related news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders have sold a total of 46,357 shares of company stock valued at $1,693,888 in the last 90 days. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Several institutional investors have recently modified their holdings of the business. Financial Synergies Wealth Advisors Inc. acquired a new stake in Fifth Third Bancorp during the 1st quarter worth approximately $29,000. GoalVest Advisory LLC raised its holdings in shares of Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 560 shares during the period. Denali Advisors LLC bought a new stake in Fifth Third Bancorp in the 4th quarter valued at $36,000. Financial Management Professionals Inc. increased its holdings in Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $46,000. Institutional investors own 83.79% of the company’s stock.

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.