Fifth Third Bancorp (NASDAQ:FITB) Shares Down 0.5%

Fifth Third Bancorp (NASDAQ:FITB) shares dropped 0.5% during mid-day trading on Tuesday . The stock traded as low as $36.43 and last traded at $36.81. Approximately 505,603 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 5,318,173 shares. The stock had previously closed at $37.00.

Wall Street Analyst Weigh In

FITB has been the subject of several recent analyst reports. Robert W. Baird restated a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. DA Davidson raised their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Stephens restated an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Finally, UBS Group reissued a “neutral” rating and set a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.31.

Fifth Third Bancorp Stock Down 1.5 %

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $24.83 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.40 and a beta of 1.27. The stock’s 50-day simple moving average is $35.60 and its 200-day simple moving average is $32.41.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, research analysts predict that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

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 $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,357 shares of company stock valued at $1,693,888. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Fifth Third Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after buying an additional 734,403 shares in the last quarter. Capital World Investors increased its holdings in Fifth Third Bancorp by 34.2% during the 4th quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after purchasing an additional 10,472,392 shares during the period. Invesco Ltd. grew its position in shares of Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after buying an additional 1,500,653 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fifth Third Bancorp by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after acquiring an additional 393,937 shares in the last quarter. Finally, Boston Partners increased its holdings in Fifth Third Bancorp by 11.5% in the fourth quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock valued at $502,719,000 after buying an additional 1,499,194 shares during the last quarter. 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.