Fifth Third Bancorp (NASDAQ:FITB) Given Average Rating of “Moderate Buy” by Brokerages

Fifth Third Bancorp (NASDAQ:FITB) 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.

Insider Activity

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now directly owns 20,961 shares of the company’s stock, valued at $863,802.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the sale, the executive vice president now owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,500 shares of company stock worth $2,269,920. Corporate insiders own 0.50% of the company’s stock.

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) 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.