Fifth Third Bancorp (NASDAQ:FITB) Trading 0.4% Higher

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) traded up 0.4% during mid-day trading on Tuesday . The stock traded as high as $38.25 and last traded at $38.16. 595,608 shares were traded during trading, a decline of 89% from the average session volume of 5,241,842 shares. The stock had previously closed at $38.00.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley reaffirmed an "equal weight" rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. UBS Group reissued a "neutral" rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, January 22nd. Finally, Stephens reiterated an "equal weight" rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $36.50.

Fifth Third Bancorp Stock Up 0.1 %

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm's 50 day simple moving average is $36.05 and its 200 day simple moving average is $32.95. The company has a market cap of $25.90 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share 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 the consensus estimate 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 quarter in the previous year, the business earned $0.78 EPS. Sell-side analysts anticipate that Fifth Third Bancorp will post 3.22 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.68%. Fifth Third Bancorp's dividend payout ratio is presently 44.44%.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 2,500 shares of the business's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares of the company's stock, valued at approximately $5,134,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares of the company's stock, valued at approximately $5,134,575. The disclosure for this sale can be found here. Insiders sold 48,857 shares of company stock worth $1,787,638 over the last ninety days. Company insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. lifted its stake in Fifth Third Bancorp by 2.5% during the first quarter. Sei Investments Co. now owns 685,390 shares of the financial services provider's stock valued at $25,503,000 after buying an additional 16,516 shares in the last quarter. Forsta AP Fonden boosted its stake in Fifth Third Bancorp by 81.5% in the 1st quarter. Forsta AP Fonden now owns 231,600 shares of the financial services provider's stock worth $8,618,000 after purchasing an additional 104,000 shares during the period. Oppenheimer & Co. Inc. grew its position in Fifth Third Bancorp by 3.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 86,230 shares of the financial services provider's stock worth $3,209,000 after purchasing an additional 3,258 shares in the last quarter. SG Americas Securities LLC raised its stake in Fifth Third Bancorp by 39.3% during the 1st quarter. SG Americas Securities LLC now owns 92,884 shares of the financial services provider's stock valued at $3,456,000 after purchasing an additional 26,209 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Fifth Third Bancorp by 55.7% in the first quarter. Empowered Funds LLC now owns 11,209 shares of the financial services provider's stock valued at $417,000 after purchasing an additional 4,012 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

About Fifth Third Bancorp

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.