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

Fifth Third Bancorp (NASDAQ:FITB) declared a quarterly dividend on Tuesday, March 17th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.40 per share by the financial services provider on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, March 31st.

Fifth Third Bancorp has increased its dividend payment 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 payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Fifth Third Bancorp to earn $4.11 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 38.9%.

Fifth Third Bancorp Stock Up 0.3%

Shares of NASDAQ FITB opened at $44.22 on Wednesday. The business has a 50-day moving average of $50.25 and a two-hundred day moving average of $46.58. The company has a market capitalization of $40.04 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 0.89 and a beta of 0.96. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82.

Analysts Set New Price Targets

FITB has been the subject of several research analyst reports. DA Davidson upped their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company a “buy” rating in a report on Monday, January 26th. Piper Sandler lifted their price target on shares of Fifth Third Bancorp from $50.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Robert W. Baird boosted their price target on shares of Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Wall Street Zen downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings raised Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $56.99.

Fifth Third Bancorp Company Profile

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.