Fifth Third Bancorp (NASDAQ:FITB) Trading Down 0.6%

Fifth Third Bancorp (NASDAQ:FITB)’s share price traded down 0.6% on Wednesday . The company traded as low as $37.73 and last traded at $37.81. 304,856 shares changed hands during trading, a decline of 94% from the average session volume of 5,010,510 shares. The stock had previously closed at $38.04.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. DA Davidson boosted their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Stephens restated an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price objective (up previously from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Wells Fargo & Company boosted their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Robert W. Baird restated a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.50.

Fifth Third Bancorp Price Performance

The company’s fifty day moving average is $36.67 and its two-hundred day moving average is $34.03. The firm has a market capitalization of $25.48 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities research analysts anticipate that Fifth Third Bancorp will post 3.27 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction on 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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. In related news, COO James C. Leonard sold 26,500 shares of the firm’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 owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction 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 approximately $5,134,575. The disclosure for this sale can be found here. Insiders sold 48,857 shares of company stock valued at $1,787,638 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

A number of large investors have recently added to or reduced their stakes in FITB. Vanguard Group Inc. raised its stake in Fifth Third Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after purchasing an additional 734,403 shares in the last quarter. Capital World Investors increased its holdings in Fifth Third Bancorp by 13.4% in the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after buying an additional 5,512,333 shares during the period. Invesco Ltd. increased its holdings in Fifth Third Bancorp by 8.4% in the 3rd quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after buying an additional 1,500,653 shares during the period. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $376,413,000 after buying an additional 393,937 shares during the period. Finally, Boston Partners increased its holdings in Fifth Third Bancorp by 11.5% in the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock valued at $502,719,000 after buying an additional 1,499,194 shares during the period. Institutional investors and hedge funds 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.