Fifth Third Bancorp (NASDAQ:FITB) Trading Up 0.8%

Fifth Third Bancorp (NASDAQ:FITB) shares shot up 0.8% during trading on Wednesday . The company traded as high as $36.93 and last traded at $36.76. 793,099 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 5,296,927 shares. The stock had previously closed at $36.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FITB shares. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $37.50 to $39.50 in a report on Wednesday. Stephens reissued an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Evercore ISI boosted their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Royal Bank of Canada increased their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $36.50.

Fifth Third Bancorp Stock Performance

The company has a fifty day moving average of $35.79 and a two-hundred day moving average of $32.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $25.58 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.40 and a beta of 1.24.

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

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,857 shares of company stock worth $1,787,638. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp during the 1st quarter worth approximately $29,000. GoalVest Advisory LLC increased its stake in Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares in the last quarter. Denali Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $36,000. Financial Management Professionals Inc. boosted its position in shares of Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Centerpoint Advisors LLC grew its stake in shares of Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after buying an additional 750 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.