Fifth Third Bancorp (NASDAQ:FITB) Stock Price Up 0.8%

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up 0.8% on Wednesday . The stock traded as high as $36.93 and last traded at $36.76. 793,099 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 5,296,927 shares. The stock had previously closed at $36.46.

Wall Street Analyst Weigh In

Several research firms recently commented on FITB. 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. Robert W. Baird reissued a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and increased their target price for the company from $37.50 to $39.50 in a report on Wednesday. Royal Bank of Canada boosted their price target 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. Finally, DA Davidson increased their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Trading Up 1.8 %

The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $35.79 and a 200 day moving average of $32.56. The company has a market capitalization of $25.58 billion, a PE ratio of 11.92, a PEG ratio of 1.40 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm 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 business posted $0.78 earnings per share. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.73%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Fifth Third Bancorp news, 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 transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,857 shares of company stock valued at $1,787,638. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FITB. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Fifth Third Bancorp by 424.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,353 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 15,662 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Fifth Third Bancorp during the first quarter worth $88,000. Salomon & Ludwin LLC boosted its stake in shares of Fifth Third Bancorp by 414.9% during the first quarter. Salomon & Ludwin LLC now owns 2,600 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 2,095 shares during the period. Mutual of America Capital Management LLC grew its holdings in shares of Fifth Third Bancorp by 5.2% in the first quarter. Mutual of America Capital Management LLC now owns 197,916 shares of the financial services provider’s stock worth $7,364,000 after purchasing an additional 9,823 shares during the last quarter. Finally, Centerpoint Advisors LLC increased its stake in Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

About Fifth Third Bancorp

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.