Fifth Third Bancorp to Issue Quarterly Dividend of $0.37 (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.37 per share by the financial services provider on Tuesday, April 15th. This represents a $1.48 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Monday, March 31st.

Fifth Third Bancorp has raised its dividend payment by an average of 8.1% annually over the last three years and has raised its dividend every year for the last 14 years. Fifth Third Bancorp has a dividend payout ratio of 36.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fifth Third Bancorp to earn $4.11 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 36.0%.

Fifth Third Bancorp Stock Up 2.0 %

FITB stock traded up $0.77 during trading on Monday, reaching $40.25. The stock had a trading volume of 3,124,561 shares, compared to its average volume of 4,240,623. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. The company's 50 day moving average is $42.53 and its two-hundred day moving average is $43.58. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $26.89 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.42 and a beta of 1.21.

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Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada restated an "outperform" rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Stephens reaffirmed an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Citigroup lowered their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday. Truist Financial boosted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $46.86.

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.