Fifth Third Bancorp (NASDAQ:FITB) Shares Up 1.8%

Shares of Fifth Third Bancorp (NASDAQ:FITB) shot up 1.8% on Friday . The company traded as high as $37.77 and last traded at $37.57. 1,206,492 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 5,286,853 shares. The stock had previously closed at $36.89.

Analyst Ratings Changes

FITB has been the topic of a number of research reports. Morgan Stanley reiterated an “equal weight” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 22nd. DA Davidson increased their price objective 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. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $37.50 to $39.50 in a research note on Wednesday. UBS Group reaffirmed a “neutral” rating and issued a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Finally, Robert W. Baird reissued a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $36.50.

Fifth Third Bancorp Stock Up 1.8 %

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 business has a 50 day moving average of $35.79 and a 200-day moving average of $32.56. The stock has a market cap of $25.58 billion, a PE ratio of 11.92, a P/E/G ratio of 1.40 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period last year, the firm posted $0.78 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.73%. Fifth Third Bancorp’s payout ratio is 44.44%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was 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 directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp 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 transaction, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was 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 of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Insiders have sold a total of 48,857 shares of company stock valued at $1,787,638 over the last quarter. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in shares of Fifth Third Bancorp by 3.7% during the 3rd quarter. SG Americas Securities LLC now owns 40,267 shares of the financial services provider’s stock valued at $1,020,000 after acquiring an additional 1,442 shares during the period. Commonwealth Equity Services LLC raised its holdings in Fifth Third Bancorp by 2.8% during the third 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 last quarter. Robeco Institutional Asset Management B.V. boosted its position in Fifth Third Bancorp by 7.6% during the third 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 in the last quarter. Xponance Inc. grew its holdings in Fifth Third Bancorp by 2.9% in the third quarter. Xponance Inc. now owns 95,033 shares of the financial services provider’s stock valued at $2,407,000 after purchasing an additional 2,687 shares during the last quarter. Finally, Tectonic Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter valued at $258,000. Hedge funds and other institutional investors 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.