Fifth Third Bancorp Plans Quarterly Dividend of $0.40 (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB) declared a quarterly dividend on Thursday, June 11th. Stockholders 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) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th.

Fifth Third Bancorp has raised its dividend 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% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of FITB stock opened at $53.42 on Friday. The company’s fifty day simple moving average is $49.67 and its 200-day simple moving average is $48.83. Fifth Third Bancorp has a 52 week low of $37.86 and a 52 week high of $55.44. 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 company has a market cap of $48.42 billion, a PE ratio of 17.93, a P/E/G ratio of 1.08 and a beta of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter last year, the firm posted $0.71 EPS. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current year.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the transaction, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. This trade represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the transaction, the executive vice president directly owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Institutional investors have recently modified their holdings of the business. Center for Financial Planning Inc. bought a new stake in shares of Fifth Third Bancorp during the 1st quarter valued at about $25,000. SouthState Bank Corp grew its position in shares of Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after buying an additional 236 shares during the last quarter. Harbor Investment Advisory LLC grew its position in shares of Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after buying an additional 517 shares during the last quarter. Monetary Solutions Ltd bought a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $29,000. Finally, Leonteq Securities AG bought a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $30,000. Institutional investors own 83.79% of the company’s stock.

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.