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.
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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