Fifth Third Bancorp (NASDAQ:FITB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been assigned a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $56.9875.

FITB has been the topic of a number of recent analyst reports. UBS Group reiterated a “buy” rating and issued a $59.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Argus upped their target price on Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Stephens raised their price target on Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Royal Bank Of Canada lifted their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Finally, Janney Montgomery Scott boosted their price objective on Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a report on Wednesday, January 21st.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Evolution Wealth Management Inc. bought a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth $26,000. Westside Investment Management Inc. increased its stake in Fifth Third Bancorp by 100.0% in the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 292 shares during the last quarter. Harbor Investment Advisory LLC raised its position in Fifth Third Bancorp by 501.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares in the last quarter. Monetary Solutions Ltd purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at about $29,000. Finally, United Community Bank lifted its stake in Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 581 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $44.19 on Friday. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market capitalization of $40.02 billion, a PE ratio of 12.48, a P/E/G ratio of 0.88 and a beta of 0.96. The company’s 50 day simple moving average is $49.92 and its two-hundred day simple moving average is $46.54.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.6%. Fifth Third Bancorp’s payout ratio is presently 45.20%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.