Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $38.65 and last traded at $38.59, with a volume of 394368 shares trading hands. The stock had previously closed at $38.48.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Evercore ISI raised their target price on 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. DA Davidson raised their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Royal Bank of Canada raised their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $36.50.
Fifth Third Bancorp Trading Up 0.4 %
The firm has a market cap of $26.32 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock has a fifty day simple moving average of $36.15 and a 200 day simple moving average of $32.99. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter last year, the company earned $0.78 EPS. On average, research analysts expect that Fifth Third Bancorp will post 3.22 earnings per share for the current fiscal year.
Fifth Third Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is currently 44.44%.
Insider Buying and Selling
In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders sold 48,857 shares of company stock valued at $1,787,638 over the last 90 days. Company insiders own 0.50% of the company’s stock.
Hedge Funds Weigh In On Fifth Third Bancorp
Institutional investors and hedge funds have recently bought and sold shares of the stock. Daiwa Securities Group Inc. lifted its position in Fifth Third Bancorp by 6.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock valued at $2,110,000 after purchasing an additional 3,476 shares in the last quarter. Nordea Investment Management AB lifted its position in Fifth Third Bancorp by 57.5% during the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock valued at $25,551,000 after purchasing an additional 269,152 shares in the last quarter. Raymond James & Associates lifted its position in shares of Fifth Third Bancorp by 11.7% in the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock valued at $22,805,000 after acquiring an additional 69,273 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Fifth Third Bancorp by 48.0% in the fourth quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock valued at $12,102,000 after acquiring an additional 113,838 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after acquiring an additional 393,937 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.
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.