Shares of FITB opened at $27.98 on Thursday. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $34.67. The firm has a market capitalization of $18.07 billion, a PE ratio of 11.02, a PEG ratio of 1.30 and a beta of 1.33. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.88 and a quick ratio of 0.88.
Fifth Third Bancorp (NASDAQ:FITB) EVP Frank R. Forrest sold 26,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $26.37, for a total value of $685,620.00. Following the sale, the executive vice president now owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. Fifth Third Bancorp had a return on equity of 12.34% and a net margin of 27.32%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company earned $0.48 EPS. As a group, analysts expect that Fifth Third Bancorp will post 2.76 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Thursday, March 28th. Fifth Third Bancorp’s payout ratio is 34.65%.
Several equities research analysts have weighed in on the company. BidaskClub upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday. ValuEngine upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd. Morgan Stanley cut their target price on Fifth Third Bancorp from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 11th. Finally, Stephens upgraded Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $31.27.
Institutional investors and hedge funds have recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its stake in shares of Fifth Third Bancorp by 82.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 487 shares during the last quarter. JOYN Advisors Inc. increased its holdings in Fifth Third Bancorp by 38.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 480 shares during the period. Executive Wealth Management LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $69,000. Lindbrook Capital LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $75,000. Finally, Kinneret Advisory LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $80,000. Institutional investors own 82.08% of the company’s stock.
About Fifth Third Bancorp
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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