Fifth Third Bancorp (NASDAQ:FITB) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14, Fidelity Earnings reports. Fifth Third Bancorp had a return on equity of 7.52% and a net margin of 17.50%. During the same period last year, the business posted $0.68 EPS.
Fifth Third Bancorp stock opened at $30.90 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $22.01 billion, a PE ratio of 15.37, a P/E/G ratio of 1.54 and a beta of 1.63. Fifth Third Bancorp has a 12 month low of $11.10 and a 12 month high of $32.82. The stock has a 50-day moving average price of $28.74 and a two-hundred day moving average price of $23.63.
The company also recently announced a quarterly dividend, which was paid on Friday, January 15th. Shareholders of record on Thursday, December 31st were given a $0.27 dividend. The ex-dividend date was Wednesday, December 30th. This represents a $1.08 annualized dividend and a yield of 3.50%. Fifth Third Bancorp’s dividend payout ratio is presently 38.99%.
Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Fifth Third Bancorp from $20.50 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, October 6th. TheStreet raised Fifth Third Bancorp from a “c+” rating to a “b-” rating in a report on Thursday, October 22nd. UBS Group lowered Fifth Third Bancorp from a “buy” rating to a “neutral” rating and set a $23.00 target price on the stock. in a report on Friday, October 30th. Royal Bank of Canada increased their target price on Fifth Third Bancorp from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Zacks Investment Research downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a research report on Tuesday, December 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $28.71.
In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 8,500 shares of the stock in a transaction dated Monday, November 23rd. The stock was sold at an average price of $25.81, for a total value of $219,385.00. Following the completion of the transaction, the executive vice president now directly owns 71,677 shares in the company, valued at $1,849,983.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.
Fifth Third Bancorp Company Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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