Fifth Third Bancorp (NASDAQ:FITB) Receives $42.28 Consensus PT from Analysts

Fifth Third Bancorp (NASDAQ:FITB) has been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $42.28.

Several research analysts recently commented on FITB shares. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Barclays boosted their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley raised their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Evercore ISI upped their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised their price objective on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently made changes to their positions in FITB. Park National Corp OH grew its position in shares of Fifth Third Bancorp by 15.0% during the 2nd quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock worth $1,514,000 after buying an additional 5,411 shares during the period. M&G Plc acquired a new position in Fifth Third Bancorp during the second quarter valued at approximately $1,254,000. Plato Investment Management Ltd bought a new stake in Fifth Third Bancorp in the first quarter valued at approximately $639,000. Russell Investments Group Ltd. raised its holdings in Fifth Third Bancorp by 9.1% in the first quarter. Russell Investments Group Ltd. now owns 313,324 shares of the financial services provider’s stock worth $11,657,000 after purchasing an additional 26,194 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Fifth Third Bancorp by 2.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 827,625 shares of the financial services provider’s stock worth $30,796,000 after purchasing an additional 18,208 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $43.14 on Thursday. The business’s 50-day simple moving average is $42.81 and its 200-day simple moving average is $39.70. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. Fifth Third Bancorp has a 52 week low of $24.02 and a 52 week high of $45.71. The firm has a market cap of $29.20 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 2.11 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business earned $0.92 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

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.