Fifth Third Bancorp (FITB) to Release Earnings on Thursday

Fifth Third Bancorp (NASDAQ:FITB) is projected to post its quarterly earnings results before the market opens on Thursday, April 17th. Analysts expect Fifth Third Bancorp to post earnings of $0.72 per share and revenue of $2.17 billion for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $34.60 on Tuesday. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07. The company has a market cap of $23.12 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50-day simple moving average is $39.91 and its 200 day simple moving average is $42.88.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of several analyst reports. Barclays upped their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Baird R W raised shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. JPMorgan Chase & Co. cut their target price on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Robert W. Baird raised Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a research report on Monday, April 7th. Finally, Citigroup cut their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $48.12.

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.