Fifth Third Bancorp (NASDAQ: FITB) announced a quarterly dividend on Tuesday December 14, RTT News reports. Shareholders of record on Friday, December 31 will receive a dividend of 0.30 per share from the financial services provider on Tuesday, January 18. This represents an annualized dividend of $ 1.20 and a dividend yield of 2.78%.
Fifth Third Bancorp has increased its dividend by 80.0% over the past three years and has increased its dividend annually for the past 10 consecutive years. Fifth Third Bancorp has a payout ratio of 35.9%, which indicates that its dividend is sufficiently covered by earnings. Analysts expect Fifth Third Bancorp to earn $ 3.33 per share next year, which means the company should continue to be able to cover its annual dividend of $ 1.20 with a payout rate. expected future of 36.0%.
Shares of Fifth Third Bancorp traded up $ 0.72 at midday on Tuesday, reaching $ 43.12. The stock had a trade volume of 5,781,859 shares, compared to an average volume of 5,164,887. The company has a 50-day moving average of $ 43.94 and a two-hundred-day moving average of $ 40.65. . Fifth Third Bancorp has a 12 month low of $ 26.42 and a 12 month high of $ 45.92. The company has a quick ratio of 0.86, a current ratio of 0.89, and a debt ratio of 0.56. The company has a market cap of $ 29.48 billion, a P / E ratio of 11.95, a price / earnings-growth ratio of 1.41, and a beta of 1.43.
Fifth Third Bancorp (NASDAQ: FITB) last released its quarterly results on Monday, October 18. The financial services provider reported earnings per share of $ 0.97 for the quarter, beating the consensus estimate of $ 0.91 by $ 0.06. Fifth Third Bancorp had a net margin of 32.49% and a return on equity of 13.35%. The company posted revenue of $ 2.03 billion in the quarter, compared to analysts’ expectations of $ 1.99 billion. In the same quarter of the previous year, the company posted EPS of $ 0.85. Sell-side analysts expect Fifth Third Bancorp to post earnings per share of 3.77 for the current year.
Meanwhile, Executive Vice President Kristine R. Garrett sold 10,740 shares of Fifth Third Bancorp in a transaction dated Monday, October 25. The shares were sold for an average price of $ 45.61, for a total value of $ 489,851.40. The sale was disclosed in a filing with the SEC, which is available at this link. In addition, Executive Vice President Howard Hammond sold 4,000 shares of Fifth Third Bancorp in a transaction dated Wednesday, November 3. The shares were sold at an average price of $ 43.79, for a total trade of $ 175,160.00. Disclosure of this sale can be found here. Company insiders own 0.66% of the company’s shares.
A number of equity analysts have weighed in on FITB stocks recently. Argus increased its price target for Fifth Third Bancorp shares from $ 42.00 to $ 49.00 and assigned a âbuyâ rating to the stock in a research report published on Wednesday, October 20. Wells Fargo & Company raised its price target for Fifth Third Bancorp shares from $ 43.00 to $ 45.00 and gave the stock an “equal weight” rating in a research report released on Monday 4 October. Barclays raised its price target for Fifth Third Bancorp shares from $ 44.00 to $ 51.00 and assigned the stock an “overweight” rating in a research report published on Wednesday, October 20. Citigroup raised its price target for Fifth Third Bancorp shares from $ 44.00 to $ 47.00 and gave the stock a “neutral” rating in a research report published on Wednesday, October 20. Finally, Morgan Stanley increased its target price on Fifth Third Bancorp shares from $ 52.00 to $ 56.00 and assigned the stock an “overweight” rating in a report released on Monday, December 6. Seven equity research analysts rated the stock with a conservation rating, ten gave the company a buy rating, and one gave the company a high buy rating. According to data from MarketBeat.com, the stock has an average rating of âBuyâ and an average target price of $ 44.88.
Fifth third profile of the Bancorp company
Fifth Third Bancorp provides banking and financial services, retail and commercial banking, consumer loan services and investment advisory services through its subsidiary Fifth Third Bank. It operates in the following segments: commercial banking, branch banking, consumer credit, and wealth and asset management.
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