Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) announced its quarterly earnings data on Friday. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05), RTT News reports. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Fifth Third Bancorp updated its Q4 2024 guidance to EPS.
Fifth Third Bancorp Stock Performance
Shares of NASDAQ FITB opened at $45.37 on Friday. The business’s 50-day moving average price is $42.05 and its two-hundred day moving average price is $39.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $45.57. The company has a market capitalization of $31.04 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22.
Fifth Third Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.26%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is 46.98%.
Insider Transactions at Fifth Third Bancorp
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Argus upped their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada boosted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Jefferies Financial Group boosted their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Bank of America boosted their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Evercore ISI boosted their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.78.
Get Our Latest Report on Fifth Third Bancorp
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.
Featured Articles
- Five stocks we like better than Fifth Third Bancorp
- Comparing and Trading High PE Ratio Stocks
- Oil Prices Fall, Sector Pulls Back: Time to Buy this Stock?
- Most active stocks: Dollar volume vs share volume
- AI Boom Fuels Demand for Dominion Energy Stock
- Consumer Discretionary Stocks Explained
- Cathie Wood Cuts Robinhood Holdings—Follow Her Lead or Stay Put?
Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.