Fifth Third Bancorp (NASDAQ:FITB) Declares Quarterly Dividend of $0.30

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.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Wednesday, July 21st. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.13. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Fifth Third Bancorp had a return on equity of 13.03% and a net margin of 31.30%. During the same period in the previous year, the company earned $0.23 earnings per share. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.66 earnings per share for the current fiscal year.

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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Dividend History for Fifth Third Bancorp (NASDAQ:FITB)

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