Fifth Third Bancorp (NASDAQ:FITB) to Issue $0.40 Quarterly Dividend

Fifth Third Bancorp (NASDAQ:FITB) declared a quarterly dividend on Thursday, June 11th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.40 per share by the financial services provider on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th.

Fifth Third Bancorp has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Fifth Third Bancorp has a dividend payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fifth Third Bancorp to earn $4.96 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 32.3%.

Fifth Third Bancorp Stock Up 1.5%

Shares of NASDAQ:FITB opened at $53.42 on Friday. The business’s 50 day simple moving average is $49.67 and its two-hundred day simple moving average is $48.83. The firm has a market cap of $48.42 billion, a P/E ratio of 17.93, a PEG ratio of 1.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a 52-week low of $37.86 and a 52-week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter last year, the company earned $0.71 earnings per share. As a group, research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.