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

Shares of Fifth Third Bancorp (NASDAQ:FITB) fell 0.6% on Thursday . The company traded as low as $38.56 and last traded at $38.74. 326,079 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 5,107,527 shares. The stock had previously closed at $38.98.

Analyst Ratings Changes

A number of research firms recently issued reports on FITB. Royal Bank of Canada upped their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Evercore ISI lifted their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $37.50 to $39.50 in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Trading Down 0.1 %

The stock’s 50-day moving average price is $36.57 and its 200 day moving average price is $33.67. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $26.38 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share 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 analyst estimates of $2.08 billion. During the same period in the previous year, the company posted $0.78 EPS. On average, sell-side analysts expect that Fifth Third Bancorp will post 3.22 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Insider Activity

In related news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on 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 directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred 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. In the last quarter, insiders sold 48,857 shares of company stock worth $1,787,638. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Several institutional investors have recently bought and sold shares of FITB. SVB Wealth LLC raised its position in shares of Fifth Third Bancorp by 3.8% in the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 283 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after buying an additional 300 shares during the period. Lcnb Corp grew its holdings in shares of Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock valued at $658,000 after buying an additional 319 shares during the last quarter. MCF Advisors LLC raised its stake in Fifth Third Bancorp by 0.8% in the 1st quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock worth $1,558,000 after acquiring an additional 328 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its position in Fifth Third Bancorp by 21.1% during the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 355 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.