Fifth Third Bancorp (NASDAQ:FITB) Announces Quarterly Dividend of $0.40

Fifth Third Bancorp (NASDAQ:FITB) announced a quarterly dividend on Thursday, June 11th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.40 per share by the financial services provider on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, June 30th.

Fifth Third Bancorp has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Fifth Third Bancorp has a dividend payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fifth Third Bancorp to earn $4.96 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 32.3%.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $53.42 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a twelve month low of $37.86 and a twelve month high of $55.44. The company has a market cap of $48.42 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.08 and a beta of 0.92. The business has a fifty day simple moving average of $49.67 and a 200 day simple moving average of $48.83.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the prior year, the company earned $0.71 EPS. On average, sell-side analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.