Fifth Third Bancorp (NASDAQ:FITB) Trading Down 0.5%

Shares of Fifth Third Bancorp (NASDAQ:FITB) were down 0.5% during mid-day trading on Thursday . The company traded as low as $36.85 and last traded at $36.90. Approximately 689,749 shares were traded during trading, a decline of 87% from the average daily volume of 5,280,341 shares. The stock had previously closed at $37.10.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FITB shares. UBS Group reissued a “neutral” rating and set a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Royal Bank of Canada lifted their target price 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. Wells Fargo & Company lifted their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $37.50 to $39.50 in a research note on Wednesday. Finally, Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. One investment 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.50.

Fifth Third Bancorp Stock Down 0.2 %

The company has a market cap of $25.20 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.24. 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 firm’s fifty day moving average price is $35.72 and its 200-day moving average price is $32.53.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the business earned $0.78 EPS. Sell-side analysts predict that Fifth Third Bancorp will post 3.2 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is presently 44.44%.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,357 shares of company stock valued at $1,693,888. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in shares of Fifth Third Bancorp by 3.7% in 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 purchasing an additional 1,442 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Fifth Third Bancorp by 2.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 195,754 shares of the financial services provider’s stock valued at $4,958,000 after purchasing an additional 5,372 shares during the period. Accurate Wealth Management LLC raised its holdings in shares of Fifth Third Bancorp by 19.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 10,703 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 1,708 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Fifth Third Bancorp by 7.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 130,560 shares of the financial services provider’s stock valued at $3,307,000 after purchasing an additional 9,257 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Fifth Third Bancorp by 2.9% in the 3rd 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 period. 83.79% of the stock is owned by institutional investors.

About Fifth Third Bancorp

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.