Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) has received a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $41.78.
A number of brokerages recently commented on FITB. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Bank of America boosted their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Evercore ISI upped their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday.
View Our Latest Research Report on FITB
Insider Activity
Hedge Funds Weigh In On Fifth Third Bancorp
Several large investors have recently bought and sold shares of FITB. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of Fifth Third Bancorp during the first quarter worth $29,000. American Capital Advisory LLC acquired a new position in Fifth Third Bancorp in the second quarter valued at approximately $34,000. Centerpoint Advisors LLC increased its stake in shares of Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 750 shares in the last quarter. Family Firm Inc. bought a new position in Fifth Third Bancorp during the second quarter worth $52,000. Finally, Mather Group LLC. acquired a new stake in Fifth Third Bancorp in the first quarter worth $56,000. 83.79% of the stock is currently owned by institutional investors.
Fifth Third Bancorp Stock Performance
Shares of NASDAQ:FITB opened at $42.10 on Friday. The company has a market capitalization of $28.80 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 2.03 and a beta of 1.22. The firm’s 50 day simple moving average is $41.48 and its 200 day simple moving average is $38.60. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $43.85.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.3 earnings per share for the current year.
Fifth Third Bancorp Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.37 dividend. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.52%. Fifth Third Bancorp’s payout ratio is 46.98%.
Fifth Third Bancorp Company Profile
Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.
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