Fifth Third Bancorp (NASDAQ:FITB) to Issue Quarterly Dividend of $0.42

Fifth Third Bancorp (NASDAQ:FITB) announced a quarterly dividend on Thursday, September 17th. Investors of record on Wednesday, September 30th will be given a dividend of 0.42 per share by the financial services provider on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 5.0% increase from Fifth Third Bancorp’s previous quarterly dividend of $0.40.

Fifth Third Bancorp has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 14 years. Fifth Third Bancorp has a payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.6%

Shares of Fifth Third Bancorp stock opened at $53.27 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The business has a fifty day simple moving average of $56.12 and a two-hundred day simple moving average of $52.17. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $59.50. The company has a market capitalization of $48.31 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.09 and a beta of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. Fifth Third Bancorp’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Through its principal subsidiary, Fifth Third Bank, the company provides banking and financial services to individuals, businesses, governments and institutional clients.

Its offerings include checking and savings accounts, mortgages, home equity loans, consumer lending, credit cards, commercial loans, treasury management and other business banking services. Fifth Third also provides wealth management, investment advisory, brokerage, trust and asset-management services, as well as capital markets and investment banking capabilities for corporate and institutional customers.

Fifth Third Bank operates through a branch and digital banking network primarily serving communities across the Midwest and Southeast, including markets in Ohio, Michigan, Florida, Georgia, Illinois, Indiana, Kentucky, North Carolina, South Carolina, Tennessee and West Virginia.