Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) Price Target at $35.63

Fifth Third Bancorp (NASDAQ:FITB) has received an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $35.63.

Several research firms recently commented on FITB. Royal Bank of Canada raised their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Barclays increased their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Stephens reiterated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. UBS Group reiterated a “neutral” rating and set a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Finally, Evercore ISI increased their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. acquired a new stake in Fifth Third Bancorp during the first quarter worth $29,000. GoalVest Advisory LLC grew its stake in shares of Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares in the last quarter. Denali Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $36,000. Financial Management Professionals Inc. grew its stake in shares of Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,000 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 1.5 %

Shares of FITB stock opened at $34.09 on Friday. The firm has a market capitalization of $23.22 billion, a PE ratio of 10.55, a P/E/G ratio of 1.31 and a beta of 1.27. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.41. The stock’s 50-day simple moving average is $35.13 and its 200-day simple moving average is $31.66. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.77 by $0.22. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same period last year, the company earned $1.04 earnings per share. Equities analysts expect that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 4.11%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 43.34%.

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.