Fifth Third Bancorp (FITB) Projected to Post Quarterly Earnings on Thursday

Fifth Third Bancorp (NASDAQ:FITB) is expected to release its earnings data 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. Parties interested in listening to the company’s conference call can do so using this link.

Fifth Third Bancorp Stock Up 2.2 %

Shares of FITB opened at $34.60 on Tuesday. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The stock has a market cap of $23.12 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a 50-day moving average price of $39.91 and a two-hundred day moving average price of $42.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

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 $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a 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%.

Analyst Ratings Changes

Several research firms have recently weighed in on FITB. JPMorgan Chase & Co. lowered their target price on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Barclays raised their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Citigroup reduced their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Robert W. Baird upgraded 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, Stephens reiterated an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.12.

Insider Buying and Selling

In related news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. The trade was 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 owned by insiders.

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.