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

Key Points

• Fifth Third Bancorp has announced a quarterly dividend of $0.40 per share, which reflects an 8.1% increase compared to the previous quarter's dividend of $0.37.
• The company's payout ratio is 37.0%, indicating that this dividend is well-covered by earnings, with anticipated earnings of $4.11 per share next year.
• As of the announcement, Fifth Third Bancorp's stock has risen 0.6%, with shares trading at $45.56, and the company boasts a market capitalization of $30.16 billion.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) announced a quarterly dividend on Friday, September 12th, RTT News reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.40 per share by the financial services provider on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. This is a 8.1% increase from Fifth Third Bancorp's previous quarterly dividend of $0.37.

Fifth Third Bancorp has a payout ratio of 37.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fifth Third Bancorp to earn $4.11 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 36.0%.

Fifth Third Bancorp Stock Up 0.6%

Shares of NASDAQ:FITB traded up $0.29 on Friday, reaching $45.56. The company had a trading volume of 3,469,353 shares, compared to its average volume of 3,797,077. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The stock has a 50-day moving average price of $43.49 and a 200 day moving average price of $40.09. The stock has a market capitalization of $30.16 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.45 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.76.

Hedge Funds Weigh In On Fifth Third Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new stake in Fifth Third Bancorp during the second quarter valued at approximately $26,000. HWG Holdings LP bought a new position in shares of Fifth Third Bancorp during the 1st quarter worth approximately $27,000. Banque Transatlantique SA bought a new position in shares of Fifth Third Bancorp during the 1st quarter worth approximately $27,000. Activest Wealth Management lifted its position in shares of Fifth Third Bancorp by 1,043.3% during the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider's stock worth $28,000 after buying an additional 626 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of Fifth Third Bancorp by 91.3% during the 1st quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider's stock worth $29,000 after buying an additional 357 shares during the period. 83.79% of the stock is currently owned by institutional investors.

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.

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