Fifth Third Bancorp (NASDAQ:FITB) issued its earnings results on Thursday. The financial services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.13, MarketWatch Earnings reports. Fifth Third Bancorp had a net margin of 25.12% and a return on equity of 10.84%. During the same quarter in the previous year, the business earned $0.23 EPS.
NASDAQ:FITB traded down $0.75 during mid-day trading on Thursday, reaching $36.13. The stock had a trading volume of 540,294 shares, compared to its average volume of 4,075,930. The company has a 50 day moving average of $39.64. Fifth Third Bancorp has a fifty-two week low of $18.25 and a fifty-two week high of $43.06. The company has a market cap of $25.43 billion, a PE ratio of 13.18, a P/E/G ratio of 1.25 and a beta of 1.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 0.91.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Tuesday, June 29th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 50.00%.
Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 7th. Royal Bank of Canada upped their price target on shares of Fifth Third Bancorp from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 21st. Jefferies Financial Group restated a “buy” rating and set a $46.00 price target on shares of Fifth Third Bancorp in a research report on Friday, May 7th. Stephens increased their target price on shares of Fifth Third Bancorp from $36.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, March 30th. Finally, Odeon Capital Group lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Monday. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.71.
About Fifth Third Bancorp
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of March 31, 2021, the Company had $207 billion in assets and operates 1,098 full-service Banking Centers, and 2,383 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina.
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