Fifth Third Bancorp (NASDAQ:FITB – Free Report) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for Fifth Third Bancorp in a research note issued on Monday, April 22nd. DA Davidson analyst P. Winter forecasts that the financial services provider will post earnings per share of $0.82 for the quarter. DA Davidson has a “Neutral” rating and a $39.00 price target on the stock. The consensus estimate for Fifth Third Bancorp’s current full-year earnings is $3.19 per share. DA Davidson also issued estimates for Fifth Third Bancorp’s FY2024 earnings at $3.30 EPS and FY2025 earnings at $3.60 EPS.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the firm earned $0.78 earnings per share.
Read Our Latest Research Report on Fifth Third Bancorp
Fifth Third Bancorp Trading Up 1.4 %
FITB opened at $37.06 on Tuesday. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. 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 company has a market cap of $25.25 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. The company has a fifty day moving average price of $35.35 and a two-hundred day moving average price of $32.07.
Fifth Third Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.35 per share. 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 dividend payout ratio (DPR) is presently 44.44%.
Insider Buying and Selling
In related news, EVP Kala Gibson sold 14,857 shares of the company’s 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 sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jude Schramm sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. In the last 90 days, insiders have 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
A number of institutional investors have recently made changes to their positions in the business. Financial Synergies Wealth Advisors Inc. purchased a new stake in Fifth Third Bancorp during the 1st quarter valued at $29,000. GoalVest Advisory LLC lifted its position in shares of Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares during the period. Denali Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $36,000. Financial Management Professionals Inc. lifted its position in shares of Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Fifth Third Bancorp by 322.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,730 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 1,320 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.
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.
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