Analysts Set Fifth Third Bancorp (NASDAQ:FITB) PT at $52.15

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been assigned an average recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $52.15.

Several equities analysts have issued reports on FITB shares. Wall Street Zen upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Stephens raised their target price on Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Argus lifted their price target on Fifth Third Bancorp from $46.00 to $49.00 in a report on Tuesday, October 7th. Jefferies Financial Group upped their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Citigroup raised their price objective on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares in the company, valued at $6,265,763.50. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Evan Bayh acquired 3,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was purchased at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the completion of the transaction, the director directly owned 84,942 shares in the company, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Several hedge funds have recently added to or reduced their stakes in FITB. CreativeOne Wealth LLC raised its holdings in Fifth Third Bancorp by 25.9% during the 1st quarter. CreativeOne Wealth LLC now owns 8,578 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 1,763 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Fifth Third Bancorp by 61.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 488,902 shares of the financial services provider’s stock worth $19,165,000 after buying an additional 186,545 shares during the period. Vident Advisory LLC raised its stake in shares of Fifth Third Bancorp by 169.1% during the first quarter. Vident Advisory LLC now owns 56,008 shares of the financial services provider’s stock worth $2,196,000 after buying an additional 35,196 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Fifth Third Bancorp by 4.5% during the first quarter. Royal Bank of Canada now owns 6,510,095 shares of the financial services provider’s stock worth $255,196,000 after buying an additional 279,669 shares during the last quarter. Finally, Flputnam Investment Management Co. lifted its holdings in Fifth Third Bancorp by 21.0% in the first quarter. Flputnam Investment Management Co. now owns 16,363 shares of the financial services provider’s stock valued at $641,000 after buying an additional 2,839 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 1.5%

Shares of FITB stock opened at $46.81 on Tuesday. The company has a market capitalization of $30.94 billion, a P/E ratio of 13.97, a P/E/G ratio of 0.95 and a beta of 0.97. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $48.71. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $44.57 and a 200 day moving average price of $43.65.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The company had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. Research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.4%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.76%.

About Fifth Third Bancorp

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.