Fifth Third Bancorp (NASDAQ:FITB) Shares Up 1.8%

Shares of Fifth Third Bancorp (NASDAQ:FITB) shot up 1.8% on Friday . The company traded as high as $37.77 and last traded at $37.57. 1,206,492 shares traded hands during trading, a decline of 77% from the average session volume of 5,286,853 shares. The stock had previously closed at $36.89.

Analyst Ratings Changes

Several research analysts have recently issued reports on FITB shares. Stephens restated an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. DA Davidson raised their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. UBS Group reissued a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $37.50 to $39.50 in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.50.

Fifth Third Bancorp Stock Up 1.8 %

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $25.58 billion, a PE ratio of 11.92, a PEG ratio of 1.40 and a beta of 1.24. The firm’s fifty day moving average is $35.88 and its 200-day moving average is $32.65.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the business posted $0.78 EPS. On average, equities research analysts predict that Fifth Third Bancorp will post 3.2 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.73%. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Insider Activity

In related news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders sold 48,857 shares of company stock worth $1,787,638 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Fifth Third Bancorp in the first quarter valued at $29,000. GoalVest Advisory LLC boosted its stake in shares of Fifth Third Bancorp by 145.5% during 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 last quarter. Denali Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $36,000. Financial Management Professionals Inc. raised its position in shares of Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,000 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC purchased a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

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.