Fifth Third Bancorp (FITB) To Go Ex-Dividend on June 30th

Fifth Third Bancorp (NASDAQ:FITB) announced a quarterly dividend on Thursday, June 11th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.40 per share by the financial services provider on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th.

Fifth Third Bancorp has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 14 years. Fifth Third Bancorp has a dividend payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fifth Third Bancorp to earn $4.96 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 32.3%.

Fifth Third Bancorp Stock Up 2.4%

NASDAQ:FITB opened at $54.71 on Friday. Fifth Third Bancorp has a twelve month low of $37.86 and a twelve month high of $55.44. The company has a market cap of $49.59 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. The stock has a fifty day simple moving average of $49.83 and a 200-day simple moving average of $48.87. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same period last year, the company earned $0.71 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current year.

Insider Activity

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the transaction, the executive vice president owned 189,382 shares in the company, valued at $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the transaction, the executive vice president owned 76,299 shares in the company, valued at $3,873,700.23. This trade represents a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of Fifth Third Bancorp by 303.4% during the first quarter. Bank of New York Mellon Corp now owns 20,079,733 shares of the financial services provider’s stock worth $932,904,000 after acquiring an additional 15,101,629 shares during the last quarter. Norges Bank purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $649,264,000. Price T Rowe Associates Inc. MD grew its stake in shares of Fifth Third Bancorp by 41.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock worth $1,664,013,000 after acquiring an additional 10,444,799 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Fifth Third Bancorp by 719.2% during the fourth quarter. Clearbridge Investments LLC now owns 3,012,022 shares of the financial services provider’s stock worth $140,993,000 after acquiring an additional 2,644,332 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Fifth Third Bancorp by 12.1% during the fourth quarter. Invesco Ltd. now owns 23,799,312 shares of the financial services provider’s stock worth $1,114,046,000 after acquiring an additional 2,574,712 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.