Fifth Third Bancorp (NASDAQ:FITB) Trading Up 0.4%

Fifth Third Bancorp (NASDAQ:FITB)’s stock price shot up 0.4% during trading on Tuesday . The company traded as high as $38.25 and last traded at $38.16. 595,608 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 5,241,842 shares. The stock had previously closed at $38.00.

Wall Street Analysts Forecast Growth

FITB has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. UBS Group reaffirmed a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Morgan Stanley reissued an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Stephens reissued an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. One investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.50.

Fifth Third Bancorp Trading Up 0.1 %

The company’s fifty day moving average is $35.97 and its 200-day moving average is $32.85. 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 company has a market capitalization of $25.90 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.42 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 analysts’ consensus estimates 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 business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the company posted $0.78 earnings per share. On average, analysts anticipate that Fifth Third Bancorp will post 3.22 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is presently 44.44%.

Insider Activity at Fifth Third Bancorp

In other 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 sale, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders have sold 48,857 shares of company stock valued at $1,787,638 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently bought and sold shares of the company. Capital World Investors increased its stake in shares of Fifth Third Bancorp by 34.2% in the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after acquiring an additional 10,472,392 shares during the period. Norges Bank acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $257,189,000. Boston Partners boosted its stake in shares of Fifth Third Bancorp by 32.1% in the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock worth $331,188,000 after buying an additional 3,176,903 shares during the last quarter. Smead Capital Management Inc. acquired a new stake in Fifth Third Bancorp during the fourth quarter worth about $67,354,000. Finally, Invesco Ltd. raised its position in Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after acquiring an additional 1,500,653 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.