Fifth Third Bancorp (NASDAQ:FITB) Reaches New 12-Month High at $37.77

Fifth Third Bancorp (NASDAQ:FITB) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $37.77 and last traded at $37.40, with a volume of 784082 shares changing hands. The stock had previously closed at $36.89.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FITB shares. DA Davidson boosted their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Evercore ISI raised their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Price Performance

The firm has a market capitalization of $25.58 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24. The company’s fifty day moving average price is $35.88 and its 200 day moving average price is $32.65. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period in the prior year, the company earned $0.78 earnings per share. Equities research analysts expect that Fifth Third Bancorp will post 3.2 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,857 shares of company stock worth $1,787,638. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Financial Synergies Wealth Advisors Inc. acquired a new position in Fifth Third Bancorp during the 1st quarter valued at about $29,000. GoalVest Advisory LLC raised its holdings in Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares in the last quarter. Denali Advisors LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $36,000. Financial Management Professionals Inc. boosted its stake in Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Centerpoint Advisors LLC increased its position in shares of Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 750 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Company Profile

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.