Fifth Third Bancorp (FITB) to Issue Quarterly Dividend of $0.27 on October 15th

Fifth Third Bancorp (NASDAQ:FITB) announced a quarterly dividend on Tuesday, September 22nd, RTT News reports. Shareholders of record on Friday, October 2nd will be paid a dividend of 0.27 per share by the financial services provider on Thursday, October 15th. This represents a $1.08 annualized dividend and a yield of 5.52%.

Fifth Third Bancorp has increased its dividend by 77.4% over the last three years and has raised its dividend every year for the last 3 years.

Shares of FITB stock opened at $19.56 on Thursday. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 1.95 and a beta of 1.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.90 and a current ratio of 0.90. Fifth Third Bancorp has a 52 week low of $11.10 and a 52 week high of $31.64. The firm’s 50-day simple moving average is $20.89 and its two-hundred day simple moving average is $18.90.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.20 by $0.10. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. Fifth Third Bancorp had a net margin of 16.55% and a return on equity of 7.37%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Analysts forecast that Fifth Third Bancorp will post 1.38 earnings per share for the current year.

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Fifth Third Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 15th. Deutsche Bank downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research note on Tuesday, July 28th. Wolfe Research assumed coverage on shares of Fifth Third Bancorp in a research note on Friday, July 31st. They issued an “outperform” rating for the company. DA Davidson lifted their target price on shares of Fifth Third Bancorp from $19.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, BidaskClub raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $24.38.

About Fifth Third Bancorp

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.

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Dividend History for Fifth Third Bancorp (NASDAQ:FITB)

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