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

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Stephens restated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Morgan Stanley restated an “equal weight” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. One 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, the stock has a consensus rating of “Hold” and a consensus price target of $36.50.

Fifth Third Bancorp Price Performance

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 moving average is $35.72 and its 200-day moving average is $32.53. The company has a market cap of $25.20 billion, a PE ratio of 11.71, a PEG ratio of 1.38 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.2 EPS for the current 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 given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.78%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 26,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kala Gibson sold 14,857 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. 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 quarter. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Centerpoint Advisors LLC increased its stake in shares of Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 750 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Fifth Third Bancorp by 10.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 67,736 shares of the financial services provider’s stock valued at $2,520,000 after purchasing an additional 6,568 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Fifth Third Bancorp in the 1st quarter worth approximately $84,000. Tokio Marine Asset Management Co. Ltd. lifted its position in Fifth Third Bancorp by 9.3% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,257 shares of the financial services provider’s stock valued at $754,000 after acquiring an additional 1,729 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Fifth Third Bancorp by 58.9% in the first quarter. BNP Paribas Financial Markets now owns 1,042,678 shares of the financial services provider’s stock worth $38,798,000 after buying an additional 386,539 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

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.