Fifth Third Bancorp (FITB) Hits New 12-Month High at $31.86
Fifth Third Bancorp (NASDAQ:FITB)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.86 and last traded at $31.89, with a volume of 1582431 shares changing hands. The stock had previously closed at $31.25.
A number of brokerages recently issued reports on FITB. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Monday. BidaskClub lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Robert W. Baird reiterated a “sell” rating and issued a $29.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, January 3rd. Barclays increased their target price on shares of Fifth Third Bancorp from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Morgan Stanley upped their price target on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $29.33.
The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $22,250.00, a P/E ratio of 11.90, a P/E/G ratio of 2.20 and a beta of 1.35.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. equities research analysts predict that Fifth Third Bancorp will post 1.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio is presently 24.15%.
In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the completion of the sale, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Horan Capital Advisors LLC. purchased a new stake in Fifth Third Bancorp during the third quarter valued at about $102,000. Valeo Financial Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter worth approximately $119,000. Sun Life Financial INC lifted its position in shares of Fifth Third Bancorp by 55,050.0% in the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 5,505 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter worth approximately $202,000. Finally, Regentatlantic Capital LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter worth approximately $205,000. 83.84% of the stock is owned by institutional investors.
About Fifth Third Bancorp
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.