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

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) shares dropped 0.5% during trading on Thursday . The stock traded as low as $36.85 and last traded at $36.90. Approximately 689,749 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 5,280,341 shares. The stock had previously closed at $37.10.

Wall Street Analyst Weigh In

FITB has been the topic of several analyst reports. DA Davidson raised 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. Stephens reiterated an "equal weight" rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Wells Fargo & Company lifted their price target 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. Finally, Robert W. Baird reiterated a "neutral" rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of "Hold" and a consensus price target of $36.50.

Fifth Third Bancorp Trading Down 0.6 %

The firm has a market cap of $25.12 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.38 and a beta of 1.24. The company has a 50-day moving average price of $35.79 and a 200 day moving average price of $32.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.

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

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.80%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO James C. Leonard sold 26,500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of 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 available through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,857 shares of company stock worth $1,787,638. Corporate insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider's stock valued at $3,012,472,000 after buying an additional 734,403 shares in the last quarter. Capital World Investors raised its holdings in Fifth Third Bancorp by 34.2% during the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider's stock valued at $1,416,985,000 after buying an additional 10,472,392 shares in the last quarter. Invesco Ltd. raised its holdings in Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider's stock valued at $492,117,000 after buying an additional 1,500,653 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $376,413,000 after buying an additional 393,937 shares in the last quarter. Finally, Boston Partners raised its holdings in Fifth Third Bancorp by 11.5% during the fourth quarter. Boston Partners now owns 14,575,735 shares of the financial services provider's stock valued at $502,719,000 after buying an additional 1,499,194 shares in the last quarter. 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.