Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Fifth Third Bancorp (FITB) Stock Price
Media stories about Fifth Third Bancorp (NASDAQ:FITB) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Fifth Third Bancorp earned a media sentiment score of 0.09 on Accern’s scale. Accern also gave news coverage about the financial services provider an impact score of 46.9827059063015 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the media stories that may have impacted Accern Sentiment’s scoring:
- Fifth Third Bancorp : FITB-US: Dividend Analysis : September 29th, 2017 (record date) : By the numbers : October 13, 2017 (finance.yahoo.com)
- Fifth Third Bancorp (FITB) Downgraded by Zacks Investment Research to Hold (americanbankingnews.com)
- JPMorgan and Citigroup just reported earnings and it coul… (finance.yahoo.com)
- Fifth Third Bancorp (FITB) Expected to Earn Q4 2017 Earnings of $0.52 Per Share (americanbankingnews.com)
- Fifth Third Bancorp (FITB) Lifted to “Buy” at Zacks Investment Research (americanbankingnews.com)
Fifth Third Bancorp (FITB) opened at 28.06 on Friday. The firm’s 50-day moving average price is $27.03 and its 200 day moving average price is $25.79. Fifth Third Bancorp has a 12-month low of $19.57 and a 12-month high of $28.97. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 14.22 and a beta of 1.37.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.03. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business posted $0.40 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts expect that Fifth Third Bancorp will post $1.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, September 28th. Fifth Third Bancorp’s dividend payout ratio is presently 32.49%.
Fifth Third Bancorp announced that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that permits the company to repurchase $1.16 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 67% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Several brokerages have recently issued reports on FITB. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $27.50 price target on shares of Fifth Third Bancorp in a research report on Friday, July 14th. BMO Capital Markets reiterated a “market perform” rating and set a $28.00 price target (up from $27.00) on shares of Fifth Third Bancorp in a research report on Tuesday, July 25th. Zacks Investment Research cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet raised Fifth Third Bancorp from a “c+” rating to a “b” rating in a research note on Friday, June 23rd. Finally, BidaskClub lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $28.13.
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In other news, EVP Frank R. Forrest sold 7,004 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $26.21, for a total value of $183,574.84. Following the sale, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at approximately $1,881,694.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.
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.
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