Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) Price Target at $40.56

Fifth Third Bancorp (NASDAQ:FITB) has received an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $40.56.

Several brokerages have recently commented on FITB. Royal Bank of Canada boosted their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Bank of America upped their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $37.50 to $39.50 in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group raised their target price on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd.

Fifth Third Bancorp Trading Up 0.1 %

Shares of FITB stock opened at $40.68 on Friday. The business’s fifty day moving average price is $38.68 and its 200 day moving average price is $36.90. The firm has a market capitalization of $27.83 billion, a PE ratio of 12.91, a P/E/G ratio of 1.91 and a beta of 1.24. 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 1-year low of $22.49 and a 1-year high of $42.91.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same quarter in the prior year, the business earned $0.87 EPS. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 20,961 shares in the company, valued at $863,802.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was 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 approximately $863,802.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The disclosure for this sale can be found here. Insiders have sold a total of 34,500 shares of company stock worth $1,429,920 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Fifth Third Bancorp in the 1st quarter valued at $29,000. American Capital Advisory LLC purchased a new position in Fifth Third Bancorp in the second quarter valued at about $34,000. Centerpoint Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 750 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Fifth Third Bancorp in the second quarter worth about $52,000. Finally, Mather Group LLC. acquired a new stake in shares of Fifth Third Bancorp in the first quarter valued at about $56,000. 83.79% of the stock is owned by institutional investors and hedge funds.

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.