Fifth Third Bancorp (FITB) Reaches New 52-Week Low at $27.11
Fifth Third Bancorp (NASDAQ:FITB) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $27.11 and last traded at $27.27, with a volume of 935468 shares traded. The stock had previously closed at $27.96.
Several research analysts recently commented on the company. Zacks Investment Research cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 26th. BidaskClub cut Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. ValuEngine cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. UBS Group upgraded Fifth Third Bancorp from a “sell” rating to a “neutral” rating and set a $26.00 price target on the stock in a research note on Friday, July 20th. Finally, Morgan Stanley cut their price target on Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.69.
The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.55 and a beta of 1.27.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, September 27th. Fifth Third Bancorp’s dividend payout ratio is currently 26.87%.
Several large investors have recently bought and sold shares of FITB. GSA Capital Partners LLP bought a new position in shares of Fifth Third Bancorp during the first quarter valued at approximately $273,000. Element Capital Management LLC bought a new position in shares of Fifth Third Bancorp during the first quarter valued at approximately $934,000. Ancora Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 88.9% during the first quarter. Ancora Advisors LLC now owns 40,751 shares of the financial services provider’s stock valued at $1,294,000 after purchasing an additional 19,182 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Fifth Third Bancorp by 82.5% during the first quarter. LPL Financial LLC now owns 135,136 shares of the financial services provider’s stock valued at $4,291,000 after purchasing an additional 61,102 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Fifth Third Bancorp by 16.4% during the first quarter. Mariner LLC now owns 37,928 shares of the financial services provider’s stock valued at $1,204,000 after purchasing an additional 5,350 shares during the last quarter. 83.91% of the stock is owned by institutional investors.
Fifth Third Bancorp Company Profile (NASDAQ:FITB)
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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