Fifth Third Bancorp (FITB) Issues Quarterly Earnings Results, Meets Estimates

Fifth Third Bancorp (NASDAQ:FITB) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52, Bloomberg Earnings reports. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same period in the previous year, the business posted $0.49 EPS.

Shares of Fifth Third Bancorp (NASDAQ FITB) opened at $32.77 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93. The company has a market cap of $22,931.39, a P/E ratio of 12.27, a P/E/G ratio of 2.22 and a beta of 1.35. Fifth Third Bancorp has a 1-year low of $23.20 and a 1-year high of $32.88.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.95%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 23.97%.

In related news, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

FITB has been the topic of several recent research reports. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. UBS Group reaffirmed a “sell” rating and issued a $26.00 price target (up previously from $25.00) on shares of Fifth Third Bancorp in a research report on Friday, October 6th. Macquarie cut shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $28.47 to $26.00 in a research report on Friday, November 17th. Morgan Stanley lifted their target price on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, Oppenheimer reissued a “hold” rating on shares of Fifth Third Bancorp in a research report on Thursday, December 7th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.33.

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Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

Earnings History for Fifth Third Bancorp (NASDAQ:FITB)

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