Fifth Third Bancorp (NASDAQ:FITB) Trading Up 0.4%

Fifth Third Bancorp (NASDAQ:FITB) was up 0.4% during trading on Tuesday . The company traded as high as $38.25 and last traded at $38.16. Approximately 595,608 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 5,241,842 shares. The stock had previously closed at $38.00.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FITB. Morgan Stanley reissued an “equal weight” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Stock Up 0.1 %

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 company has a market capitalization of $25.90 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.42 and a beta of 1.24. The firm’s fifty day moving average price is $35.97 and its 200-day moving average price is $32.85.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results 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. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the firm posted $0.78 earnings per share. Sell-side analysts expect that Fifth Third Bancorp will post 3.22 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given 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 3.68%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kala Gibson sold 14,857 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,857 shares of company stock valued at $1,787,638. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock valued at $3,012,472,000 after acquiring an additional 734,403 shares in the last quarter. Capital World Investors raised its holdings in Fifth Third Bancorp by 34.2% during the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after buying an additional 10,472,392 shares during the last quarter. Invesco Ltd. lifted its stake in shares of 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 valued at $492,117,000 after buying an additional 1,500,653 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Fifth Third Bancorp by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after buying an additional 393,937 shares during the last quarter. Finally, Boston Partners increased its position in shares of Fifth Third Bancorp by 11.5% during the fourth quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after acquiring an additional 1,499,194 shares in the last quarter. Institutional investors and hedge funds 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.