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CINCINNATI - Fifth Third Bancorp (NASDAQ:FITB), currently trading at $39.53 and identified as undervalued according to InvestingPro Fair Value metrics, today announced a series of cash dividends on several lines of preferred shares, alongside a dividend on its common shares for the first quarter of 2025. The common share dividend is set at $0.37 per share, payable on April 15, 2025, to shareholders on record as of March 31, 2025. With a current dividend yield of 3.75%, the bank has impressively maintained dividend payments for 50 consecutive years.
The bank has declared dividends on its Series H, I, J, K, L, and Class B Series A preferred shares, all due on March 31, 2025, to shareholders of record by March 27, 2025. The dividends for each series are as follows:
- Series H preferred shares will receive approximately $19.0620 per depositary share.
- Series I preferred shares are set at roughly $0.51885 per depositary share.
- Series J preferred shares will be paid approximately $19.2960 per depositary share.
- Series K preferred shares will receive about $0.30938 per depositary share.
- Series L preferred shares have a dividend rate of approximately $11.25 per depositary share.
- Class B Series A preferred shares will get roughly $0.3750 per depositary share.
The announcement reflects Fifth Third Bancorp’s ongoing commitment to return value to its shareholders. The bank has a history dating back to 1858 and is recognized for its innovation in financial services. It has been named among the World’s Most Ethical Companies by Ethisphere for several years, highlighting its dedication to ethical business practices and community impact.
Fifth Third Bancorp, a diversified financial services company, has its common stock traded on the NASDAQ Global Select Market. This dividend declaration is part of the company’s regular financial operations and is based on a press release statement.
In other recent news, Fifth Third Bancorp reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share at $0.90, surpassing the consensus estimate of $0.88. However, the bank’s revenue came in slightly below expectations at $2.18 billion, compared to the anticipated $2.21 billion. Piper Sandler noted a stronger-than-anticipated fourth-quarter performance, with net interest income rising by 1.1% quarter-over-quarter, supported by an expansion in the net interest margin to 2.97%. Truist Securities raised its price target for Fifth Third Bancorp to $52 from $51, maintaining a Buy rating, based on confidence in the bank’s future earnings and growth potential. Piper Sandler adjusted its price target for the bank from $54 to $53, maintaining an Overweight rating, while revising its EPS estimates for the coming years. Truist Securities also reaffirmed a Buy rating with a price target of $51, highlighting the bank’s favorable loan growth projections and strong balance sheet capacity. Fifth Third Bancorp’s loan growth exceeded expectations, with average loans increasing by 3.7% compared to the previous year. The bank’s credit quality metrics remained solid, with net charge-offs decreasing to 0.46% of average loans.
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