Fifth Third Bancorp (NASDAQ:FITB) released its quarterly earnings results on Wednesday. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14, Fidelity Earnings reports. Fifth Third Bancorp had a return on equity of 7.52% and a net margin of 17.50%. During the same quarter in the prior year, the company posted $0.68 earnings per share.
FITB stock traded up $0.22 during trading hours on Friday, hitting $30.90. 3,487,124 shares of the stock were exchanged, compared to its average volume of 5,156,884. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $22.01 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.54 and a beta of 1.63. The company has a 50-day simple moving average of $28.74 and a two-hundred day simple moving average of $23.63. Fifth Third Bancorp has a 12 month low of $11.10 and a 12 month high of $32.82.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 15th. Shareholders of record on Thursday, December 31st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.50%. The ex-dividend date was Wednesday, December 30th. Fifth Third Bancorp’s payout ratio is 38.99%.
Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Fifth Third Bancorp from $20.50 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, October 6th. Wedbush increased their price objective on Fifth Third Bancorp from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Friday. Barclays increased their price objective on Fifth Third Bancorp from $28.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, January 4th. UBS Group downgraded Fifth Third Bancorp from a “buy” rating to a “neutral” rating and set a $23.00 price objective for the company. in a report on Friday, October 30th. Finally, The Goldman Sachs Group raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $28.71.
In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 8,500 shares of the stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $25.81, for a total transaction of $219,385.00. Following the transaction, the executive vice president now owns 71,677 shares in the company, valued at approximately $1,849,983.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by company insiders.
About Fifth Third Bancorp
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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