Fifth Third Bancorp (NASDAQ:FITB) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) in a report released on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $40.00 price objective on the financial services provider’s stock.

FITB has been the topic of several other reports. UBS Group reiterated a neutral rating and set a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Stephens reiterated an equal weight rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a neutral rating in a research note on Monday, April 22nd. Wolfe Research upgraded shares of Fifth Third Bancorp from a peer perform rating to an outperform rating and set a $43.00 price target on the stock in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a neutral rating to an overweight rating and raised their price objective for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $36.86.

Read Our Latest Research Report on FITB

Fifth Third Bancorp Price Performance

Shares of FITB opened at $35.61 on Tuesday. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $39.14. The firm’s fifty day simple moving average is $36.71 and its 200-day simple moving average is $35.06. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 2.46 and a beta of 1.24. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the business earned $0.78 EPS. Equities analysts forecast that Fifth Third Bancorp will post 3.27 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.93%. Fifth Third Bancorp’s payout ratio is 44.44%.

Insider Activity

In other news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Insiders have sold a total of 22,357 shares of company stock valued at $816,148 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after buying an additional 734,403 shares in the last quarter. Capital World Investors boosted its holdings in Fifth Third Bancorp by 13.4% during the first quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after buying an additional 5,512,333 shares in the last quarter. Invesco Ltd. boosted its holdings in Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after buying an additional 1,500,653 shares in the last quarter. Boston Partners boosted its holdings in 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. Finally, Dimensional Fund Advisors LP boosted its holdings in Fifth Third Bancorp by 4.4% during 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 in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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