Fifth Third Bancorp (NASDAQ:FITB) Receives $46.75 Average Price Target from Brokerages

Fifth Third Bancorp (NASDAQ:FITB) has been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $46.75.

FITB has been the subject of a number of analyst reports. Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $43.33 on Friday. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. The company has a market cap of $29.05 billion, a PE ratio of 13.80, a P/E/G ratio of 1.44 and a beta of 1.23. The stock has a 50 day simple moving average of $44.06 and a 200-day simple moving average of $43.46. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.42%. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp in the fourth quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth approximately $28,000. Venturi Wealth Management LLC raised its holdings in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at $29,000. Finally, Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

About Fifth Third Bancorp

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.