Fifth Third Bancorp (NASDAQ:FITB) announced a quarterly dividend on Monday, September 13th, RTT News reports. Investors of record on Thursday, September 30th will be paid a dividend of 0.30 per share by the financial services provider on Friday, October 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.27.
Fifth Third Bancorp has raised its dividend by 80.0% over the last three years and has increased its dividend every year for the last 4 years.
Shares of NASDAQ FITB opened at $38.98 on Wednesday. Fifth Third Bancorp has a fifty-two week low of $19.32 and a fifty-two week high of $43.06. The firm’s 50-day simple moving average is $37.67 and its 200 day simple moving average is $38.71. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.59. The stock has a market cap of $26.92 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.28 and a beta of 1.55.
In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 6,372 shares of the firm’s stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $38.41, for a total transaction of $244,748.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.
A number of research analysts recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $35.84 target price (down from $46.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 27th. Robert W. Baird lifted their target price on Fifth Third Bancorp from $39.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, June 3rd. Citigroup assumed coverage on Fifth Third Bancorp in a report on Friday, July 16th. They set a “hold” rating and a $36.73 target price on the stock. Morgan Stanley lifted their target price on Fifth Third Bancorp from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. Finally, Odeon Capital Group cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $38.23.
About Fifth Third Bancorp
Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management.
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