Fifth Third Bancorp (FITB) to Distribute Quarterly Dividend of $0.40 on October 15th

Fifth Third Bancorp (NASDAQ:FITB) announced a quarterly dividend on Friday, September 12th, RTT News reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.40 per share by the financial services provider on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. This is a 8.1% increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37.

Fifth Third Bancorp has a payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fifth Third Bancorp to earn $4.11 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 36.0%.

Fifth Third Bancorp Stock Up 0.6%

Shares of Fifth Third Bancorp stock opened at $45.56 on Friday. The stock’s fifty day moving average is $43.49 and its 200-day moving average is $40.07. The firm has a market capitalization of $30.16 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.76. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Evolution Wealth Management Inc. purchased a new position in Fifth Third Bancorp in the second quarter valued at about $26,000. HWG Holdings LP purchased a new position in Fifth Third Bancorp in the first quarter valued at about $27,000. Banque Transatlantique SA purchased a new position in Fifth Third Bancorp in the first quarter valued at about $27,000. Activest Wealth Management grew its stake in Fifth Third Bancorp by 1,043.3% in the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 626 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Fifth Third Bancorp by 91.3% in the first quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 357 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

About Fifth Third Bancorp

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.