Fifth Third Bancorp (NASDAQ:FITB) Shares Down 0.5%

Fifth Third Bancorp (NASDAQ:FITB) was down 0.5% during trading on Tuesday . The company traded as low as $36.43 and last traded at $36.81. Approximately 505,603 shares changed hands during trading, a decline of 90% from the average daily volume of 5,318,173 shares. The stock had previously closed at $37.00.

Wall Street Analyst Weigh In

Several brokerages recently commented on FITB. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 target price (up previously from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Morgan Stanley restated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 22nd. UBS Group reiterated a “neutral” rating and issued a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Evercore ISI raised their price objective on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada boosted their target price on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average price target of $36.50.

Fifth Third Bancorp Stock Down 0.6 %

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 business has a 50 day simple moving average of $35.72 and a 200 day simple moving average of $32.53. The stock has a market cap of $25.12 billion, a PE ratio of 11.71, a P/E/G ratio of 1.38 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the firm posted $0.78 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.80%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,857 shares of company stock worth $1,787,638. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently added to or reduced their stakes in FITB. Benjamin F. Edwards & Company Inc. lifted its position in shares of Fifth Third Bancorp by 3.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after buying an additional 300 shares during the period. Lcnb Corp lifted its holdings in shares of Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock valued at $658,000 after acquiring an additional 319 shares during the period. MCF Advisors LLC boosted its stake in shares of Fifth Third Bancorp by 0.8% in the 1st quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock valued at $1,558,000 after purchasing an additional 328 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of Fifth Third Bancorp by 21.1% in the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 355 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Fifth Third Bancorp by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 73,905 shares of the financial services provider’s stock worth $2,750,000 after purchasing an additional 365 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

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.