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Fifth Third Hikes Quarterly Dividend by 11%

Fifth Third Bancorp (FITB) has raised its quarterly common stock cash dividend by 11% to $0.30 per share. The dividend is payable on October 15, 2021, to shareholders of record as of September 30, 2021.

Fifth Third engages in the provision of banking & financial services, retail & commercial banking, consumer lending services and investment advisory services through its subsidiary Fifth Third Bank. (See Fifth Third stock charts on TipRanks)

In February 2020, the company raised its common stock dividend by 12.5%. In June 2019, its board approved a share repurchase program of up to $100 million.

Last month, Morgan Stanley analyst Ken Zerbe maintained a Buy rating on Fifth Third and raised the price target to $49 from $48. The new price target implies 23.8% upside potential from current level.

Consensus among analysts is a Moderate Buy based on 6 Buys and 3 Holds. The average Fifth Third price target stands at $43.86, implying upside potential of 10.8%.

According to TipRanks’ Smart Score rating system, Fifth Third gets a 9 out of 10, which indicates that the stock is likely to outperform market averages.

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