Fifth Third Bancorp (NASDAQ:FITB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Fifth Third Bancorp (NASDAQ:FITB) had its price target increased by Wells Fargo & Company from $48.00 to $52.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on the stock. Cowen assumed coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 14th. They set a “buy” rating for the company. Baird R W raised shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Morgan Stanley reduced their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. DA Davidson raised shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and boosted their price objective for the company from $42.00 to $47.00 in a research report on Monday. Finally, Barclays reduced their price objective on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $47.53.

Fifth Third Bancorp Trading Down 0.4%

NASDAQ:FITB opened at $38.98 on Tuesday. The company has a fifty day moving average of $36.94 and a 200 day moving average of $40.75. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $26.02 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.42 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the business posted $0.70 EPS. On average, research analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 46.98%.

Institutional Trading of Fifth Third Bancorp

Several institutional investors have recently bought and sold shares of FITB. HWG Holdings LP purchased a new stake in Fifth Third Bancorp during the 1st quarter valued at about $27,000. Banque Transatlantique SA bought a new position in Fifth Third Bancorp during the 1st quarter valued at about $27,000. Sierra Ocean LLC bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $28,000. BankPlus Trust Department bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $29,000. Finally, Quarry LP bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $29,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

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.