Fifth Third Bancorp (NASDAQ:FITB) Plans Quarterly Dividend of $0.37

Fifth Third Bancorp (NASDAQ:FITB) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.37 per share by the financial services provider on Wednesday, January 15th. This represents a $1.48 annualized dividend and a dividend yield of 3.21%.

Fifth Third Bancorp has raised its dividend by an average of 8.0% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Fifth Third Bancorp has a payout ratio of 40.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fifth Third Bancorp to earn $3.62 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 40.9%.

Fifth Third Bancorp Stock Down 0.7 %

Shares of FITB traded down $0.33 on Wednesday, hitting $46.06. The company’s stock had a trading volume of 946,915 shares, compared to its average volume of 4,519,439. Fifth Third Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $49.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm’s fifty day moving average price is $45.23 and its 200-day moving average price is $41.45. The firm has a market capitalization of $30.89 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 2.26 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $0.92 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current year.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

FITB has been the subject of a number of recent research reports. Piper Sandler upped their price target on Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Barclays upped their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Citigroup upped their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Evercore ISI upped their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.81.

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.