Fifth Third Bancorp (FITB) Shares Gap Down to $26.81

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Fifth Third Bancorp (NASDAQ:FITB)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $26.97, but opened at $26.81. Fifth Third Bancorp shares last traded at $26.60, with a volume of 15154200 shares trading hands.

Several equities analysts have recently issued reports on the company. BidaskClub raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. ValuEngine raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Morgan Stanley decreased their price objective on Fifth Third Bancorp from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 11th. Stephens raised Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 20th. Finally, Raymond James set a $30.00 price target on Fifth Third Bancorp and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.13.

The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.31 and a beta of 1.32. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.97.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Fifth Third Bancorp had a return on equity of 12.34% and a net margin of 27.32%. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, research analysts predict that Fifth Third Bancorp will post 2.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.88 annualized dividend and a yield of 3.31%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 34.65%.

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. increased its stake in Fifth Third Bancorp by 158.2% during the 4th quarter. American Century Companies Inc. now owns 877,586 shares of the financial services provider’s stock worth $20,650,000 after buying an additional 537,728 shares in the last quarter. Norges Bank purchased a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $161,089,000. Aspire Private Capital LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $628,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $305,000. Finally, Executive Wealth Management LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $69,000. Institutional investors own 79.91% of the company’s stock.

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About Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

See Also: Capital Gains

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