Fifth Third Bancorp (FITB) Increases Dividend to $0.18 Per Share

Fifth Third Bancorp (NASDAQ:FITB) announced a quarterly dividend on Tuesday, June 19th, RTT News reports. Stockholders of record on Friday, June 29th will be given a dividend of 0.18 per share by the financial services provider on Monday, July 16th. This represents a $0.72 annualized dividend and a dividend yield of 2.36%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.16.

Fifth Third Bancorp opened at $30.57 on Wednesday, according to Marketbeat Ratings. The company has a market capitalization of $21.02 billion, a PE ratio of 11.41, a P/E/G ratio of 1.57 and a beta of 1.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.89 and a quick ratio of 0.88. Fifth Third Bancorp has a 12 month low of $24.58 and a 12 month high of $34.67.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.49. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.55 billion. Fifth Third Bancorp had a return on equity of 10.45% and a net margin of 30.14%. Fifth Third Bancorp’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. sell-side analysts forecast that Fifth Third Bancorp will post 2.48 earnings per share for the current year.

Fifth Third Bancorp announced that its board has authorized a stock repurchase plan on Tuesday, February 27th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

A number of brokerages have recently commented on FITB. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a research note on Monday, May 28th. Robert W. Baird raised Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $32.00 price target on the stock in a research note on Tuesday, May 22nd. BidaskClub raised Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 27th. Argus began coverage on Fifth Third Bancorp in a research note on Thursday, June 14th. They set a “buy” rating and a $36.00 price target on the stock. Finally, Vining Sparks reissued a “buy” rating and set a $37.00 price target on shares of Fifth Third Bancorp in a research note on Friday, April 6th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $32.07.

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.

Dividend History for Fifth Third Bancorp (NASDAQ:FITB)

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