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

Shares of Fifth Third Bancorp (NASDAQ:FITB) rose 0.5% on Monday . The stock traded as high as $37.12 and last traded at $37.08. Approximately 517,377 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 5,339,919 shares. The stock had previously closed at $36.90.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price objective (up previously from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. DA Davidson boosted their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Royal Bank of Canada raised their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Finally, Evercore ISI lifted their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.50.

Fifth Third Bancorp Stock Performance

The business has a 50 day moving average of $35.65 and a 200-day moving average of $32.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $24.83 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27.

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

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.84%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,357 shares of company stock worth $1,693,888. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC raised its holdings in shares of Fifth Third Bancorp by 21.1% during the 1st quarter. Prosperity Consulting Group LLC now owns 9,892 shares of the financial services provider’s stock valued at $368,000 after buying an additional 1,725 shares in the last quarter. Mission Wealth Management LP raised its stake in shares of Fifth Third Bancorp by 1.5% during the first quarter. Mission Wealth Management LP now owns 115,211 shares of the financial services provider’s stock worth $4,287,000 after acquiring an additional 1,727 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Fifth Third Bancorp by 16.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 9,080 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 1,275 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at $622,000. Finally, Outfitter Financial LLC grew its holdings in shares of Fifth Third Bancorp by 7.2% during the 1st quarter. Outfitter Financial LLC now owns 29,405 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 1,980 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 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.