Fifth Third Bancorp (NASDAQ:FITB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Fifth Third Bancorp (NASDAQ:FITB) has been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $45.92.

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Piper Sandler raised their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Barclays boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Evercore ISI raised their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. boosted its holdings in Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the period. Boston Common Asset Management LLC lifted its position in shares of Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after buying an additional 34,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fifth Third Bancorp by 13.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after buying an additional 55,081 shares during the period. Icon Wealth Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $541,000. Finally, Nordea Investment Management AB raised its stake in Fifth Third Bancorp by 8.9% during the fourth quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock worth $28,286,000 after acquiring an additional 54,463 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Trading Up 2.5 %

NASDAQ FITB opened at $44.34 on Tuesday. The company has a 50-day moving average of $45.02 and a 200-day moving average of $42.82. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The company has a market cap of $29.73 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.79 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 EPS. As a group, equities analysts predict that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 49.17%.

About Fifth Third Bancorp

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.