Fifth Third Bancorp (NASDAQ:FITB) Stock Price Up 0.6%

Fifth Third Bancorp (NASDAQ:FITB) rose 0.6% on Monday . The company traded as high as $37.99 and last traded at $37.79. Approximately 524,785 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 5,265,754 shares. The stock had previously closed at $37.56.

Analyst Ratings Changes

FITB has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $37.50 to $39.50 in a research note on Wednesday, May 1st. Robert W. Baird reissued a “neutral” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Evercore ISI boosted their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. DA Davidson boosted their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Stephens restated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market cap of $25.88 billion, a PE ratio of 12.06, a P/E/G ratio of 1.42 and a beta of 1.24. The business has a fifty day simple moving average of $35.88 and a two-hundred day simple moving average of $32.76.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. Research analysts forecast that Fifth Third Bancorp will post 3.22 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.68%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,857 shares of company stock valued at $1,787,638. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its stake in shares of Fifth Third Bancorp by 2.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 195,754 shares of the financial services provider’s stock worth $4,958,000 after purchasing an additional 5,372 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Fifth Third Bancorp by 7.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 130,560 shares of the financial services provider’s stock worth $3,307,000 after purchasing an additional 9,257 shares during the period. Raymond James & Associates lifted its stake in shares of Fifth Third Bancorp by 17.0% in the 3rd quarter. Raymond James & Associates now owns 591,942 shares of the financial services provider’s stock worth $14,994,000 after purchasing an additional 85,981 shares during the period. Brown Advisory Inc. lifted its stake in shares of Fifth Third Bancorp by 4.2% in the 3rd quarter. Brown Advisory Inc. now owns 24,241 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 988 shares during the period. Finally, Forsta AP Fonden lifted its stake in shares of Fifth Third Bancorp by 2.1% in the 3rd quarter. Forsta AP Fonden now owns 158,200 shares of the financial services provider’s stock worth $4,007,000 after purchasing an additional 3,200 shares during the period. 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.