Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) Price Target at $37.26

Fifth Third Bancorp (NASDAQ:FITB) has been given a consensus recommendation of “Hold” by the sixteen research firms that are covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $37.26.

Several analysts have recently weighed in on the stock. UBS Group restated a “neutral” rating and set a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Wolfe Research raised Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Friday, May 31st. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $37.50 to $39.50 in a research report on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the transaction, the executive vice president now owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kala Gibson sold 14,857 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after acquiring an additional 734,403 shares in the last quarter. Capital World Investors boosted its stake in shares of Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after buying an additional 5,512,333 shares during the last quarter. Boston Partners grew its position in shares of Fifth Third Bancorp by 11.5% during the fourth quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after buying an additional 1,499,194 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Fifth Third Bancorp by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,247,695 shares of the financial services provider’s stock worth $318,979,000 after buying an additional 393,489 shares during the last quarter. Finally, Norges Bank acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $257,189,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $36.49 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a fifty day simple moving average of $36.92 and a 200-day simple moving average of $35.59. The stock has a market cap of $24.96 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the prior year, the firm posted $0.78 EPS. Equities analysts expect that Fifth Third Bancorp will post 3.28 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s payout ratio is 44.44%.

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.