Fifth Third Bancorp (NASDAQ:FITB)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $27.11 and last traded at $27.27, with a volume of 935468 shares. The stock had previously closed at $27.96.
FITB has been the subject of several research reports. Zacks Investment Research cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. BidaskClub cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 30th. Vining Sparks reissued a “buy” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a research report on Thursday, July 19th. Wedbush dropped their price target on Fifth Third Bancorp from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, July 20th. Finally, UBS Group raised Fifth Third Bancorp from a “sell” rating to a “neutral” rating and set a $26.00 price target for the company in a research report on Friday, July 20th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.69.
The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $18.65 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 1.55 and a beta of 1.27.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.61 billion. Fifth Third Bancorp had a return on equity of 11.12% and a net margin of 32.86%. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, analysts anticipate that Fifth Third Bancorp will post 2.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Thursday, September 27th. Fifth Third Bancorp’s dividend payout ratio is currently 26.87%.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Fifth Third Bancorp by 5.9% in the second quarter. BlackRock Inc. now owns 48,455,130 shares of the financial services provider’s stock valued at $1,390,661,000 after purchasing an additional 2,718,504 shares during the period. Boston Partners boosted its holdings in Fifth Third Bancorp by 1.0% in the second quarter. Boston Partners now owns 12,408,147 shares of the financial services provider’s stock valued at $356,114,000 after acquiring an additional 117,763 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Fifth Third Bancorp by 16.9% in the second quarter. Wells Fargo & Company MN now owns 7,362,392 shares of the financial services provider’s stock valued at $211,301,000 after acquiring an additional 1,062,218 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Fifth Third Bancorp by 119.9% in the second quarter. Janus Henderson Group PLC now owns 4,875,534 shares of the financial services provider’s stock valued at $139,929,000 after acquiring an additional 2,658,672 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Fifth Third Bancorp by 106.3% in the second quarter. Schroder Investment Management Group now owns 4,166,562 shares of the financial services provider’s stock valued at $119,747,000 after acquiring an additional 2,146,656 shares during the last quarter. 83.91% of the stock is owned by institutional investors and hedge funds.
About Fifth Third Bancorp (NASDAQ:FITB)
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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