Fifth Third Bancorp (FITB) to Distribute Quarterly Dividend of $0.40 on July 15th

Fifth Third Bancorp (NASDAQ:FITB) declared a quarterly dividend on Thursday, June 11th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.40 per share by the financial services provider on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, June 30th.

Fifth Third Bancorp has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 14 years. Fifth Third Bancorp has a dividend payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fifth Third Bancorp to earn $4.96 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 32.3%.

Fifth Third Bancorp Stock Up 0.1%

Fifth Third Bancorp stock opened at $56.47 on Friday. The stock has a market capitalization of $51.18 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.09 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $50.90 and a two-hundred day moving average of $49.59. Fifth Third Bancorp has a twelve month low of $40.04 and a twelve month high of $56.77.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.20. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the company posted $0.71 earnings per share. As a group, research analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.