Fifth Third Bancorp (NASDAQ:FITB) Trading Up 0.5%

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report)'s share price rose 0.5% during trading on Monday . The company traded as high as $37.12 and last traded at $37.08. Approximately 517,377 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 5,339,919 shares. The stock had previously closed at $36.90.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday, January 22nd. DA Davidson lifted their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a "neutral" rating in a research report on Monday, April 22nd. Evercore ISI lifted their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an "in-line" rating in a research report on Thursday, March 28th. Finally, UBS Group reaffirmed a "neutral" rating and set a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Fifth Third Bancorp has an average rating of "Hold" and a consensus target price of $36.31.

Fifth Third Bancorp Stock Up 0.3 %

The firm has a market capitalization of $25.20 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The stock has a fifty day moving average of $35.60 and a 200 day moving average of $32.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates 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 company posted $0.78 earnings per share. On average, research analysts anticipate that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.78%. Fifth Third Bancorp's payout ratio is presently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares of the company's stock, valued at $5,072,172.36. The disclosure for this sale can be found here. Insiders have sold a total of 46,357 shares of company stock worth $1,693,888 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. grew its position in shares of Fifth Third Bancorp by 6.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider's stock valued at $2,110,000 after purchasing an additional 3,476 shares in the last quarter. Nordea Investment Management AB grew its position in Fifth Third Bancorp by 57.5% during the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider's stock worth $25,551,000 after buying an additional 269,152 shares in the last quarter. Raymond James & Associates grew its position in Fifth Third Bancorp by 11.7% during the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider's stock worth $22,805,000 after buying an additional 69,273 shares in the last quarter. International Assets Investment Management LLC grew its position in Fifth Third Bancorp by 48.0% during the fourth quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider's stock worth $12,102,000 after buying an additional 113,838 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Fifth Third Bancorp by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider's stock worth $376,413,000 after buying an additional 393,937 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other 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.