Fifth Third Bancorp (NASDAQ:FITB) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02, Fidelity Earnings reports. Fifth Third Bancorp had a return on equity of 11.51% and a net margin of 24.39%. During the same period last year, the business posted $0.64 earnings per share.
FITB opened at $28.30 on Wednesday. The company has a market capitalization of $20.47 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.89. Fifth Third Bancorp has a 1-year low of $22.12 and a 1-year high of $30.20. The business has a 50 day moving average price of $27.18 and a two-hundred day moving average price of $27.38.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 3.39%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 37.80%.
A number of brokerages recently issued reports on FITB. Raymond James increased their price objective on Fifth Third Bancorp from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Citigroup decreased their price objective on Fifth Third Bancorp from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. ValuEngine lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley decreased their price objective on Fifth Third Bancorp from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Wedbush increased their price objective on Fifth Third Bancorp from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $31.23.
In related news, Director Evan Bayh acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $25.93 per share, for a total transaction of $103,720.00. Following the transaction, the director now owns 48,517 shares of the company’s stock, valued at $1,258,045.81. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Timothy Spence sold 5,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $27.52, for a total value of $137,600.00. Following the sale, the executive vice president now owns 152,672 shares of the company’s stock, valued at approximately $4,201,533.44. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
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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