Fifth Third Bancorp (NASDAQ:FITB) Trading Down 0.2%

Fifth Third Bancorp (NASDAQ:FITB)’s stock price traded down 0.2% during mid-day trading on Wednesday . The stock traded as low as $37.57 and last traded at $37.97. 565,766 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 5,234,006 shares. The stock had previously closed at $38.03.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. UBS Group restated a “neutral” rating and set a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Royal Bank of Canada boosted their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Morgan Stanley restated an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 target price (up from $39.00) on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.50.

Fifth Third Bancorp Price Performance

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 fifty day moving average price of $36.05 and a 200 day moving average price of $32.95. The company has a market capitalization of $26.21 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data 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 return on equity of 16.11% and a net margin of 17.70%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the business earned $0.78 EPS. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.22 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.64%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp 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 transaction, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,857 shares of company stock valued at $1,787,638. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Large investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. raised its position in Fifth Third Bancorp by 6.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock valued at $2,110,000 after buying an additional 3,476 shares during the period. Nordea Investment Management AB lifted its position in shares of Fifth Third Bancorp by 57.5% in the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after purchasing an additional 269,152 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Fifth Third Bancorp by 11.7% during the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock worth $22,805,000 after purchasing an additional 69,273 shares during the period. International Assets Investment Management LLC grew its position in Fifth Third Bancorp by 48.0% during the fourth quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock valued at $12,102,000 after purchasing an additional 113,838 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Fifth Third Bancorp by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after buying an additional 393,937 shares in the last quarter. 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.