Fifth Third Bancorp (FITB) Projected to Post Quarterly Earnings on Thursday

Fifth Third Bancorp (NASDAQ:FITB) is anticipated to announce its earnings results before the market opens on Thursday, April 17th. Analysts expect the company to announce earnings of $0.72 per share and revenue of $2.17 billion for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Fifth Third Bancorp Trading Up 1.4 %

FITB stock opened at $35.07 on Wednesday. The business’s 50-day moving average is $39.73 and its 200 day moving average is $42.83. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The stock has a market cap of $23.43 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.42 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Buying and Selling

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FITB. Stephens reissued an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Citigroup decreased their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Truist Financial raised their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Baird R W upgraded Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.12.

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.