Fifth Third Bancorp (FITB) Projected to Release Quarterly Earnings on Thursday

Fifth Third Bancorp (NASDAQ:FITB) is projected to issue its quarterly earnings data before the market opens on Thursday, April 17th. Analysts expect the company to announce earnings of $0.72 per share and revenue of $2.17 billion for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $35.07 on Wednesday. The company’s 50 day simple moving average is $39.73 and its 200-day simple moving average is $42.83. The firm has a market cap of $23.43 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.22%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s payout ratio is currently 47.13%.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of research reports. Robert W. Baird raised Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a report on Monday, April 7th. Barclays boosted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. DA Davidson lifted their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Citigroup cut their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, Truist Financial lifted their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $48.12.

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.