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

Shares of Fifth Third Bancorp (NASDAQ:FITB) have received a consensus rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $60.2024.

FITB has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of Fifth Third Bancorp from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays lifted their price target on Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Weiss Ratings raised Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Piper Sandler restated an “overweight” rating and issued a $54.00 price objective (down from $57.00) on shares of Fifth Third Bancorp in a research note on Monday, March 30th. Finally, Robert W. Baird upped their price target on Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 8th.

Fifth Third Bancorp Stock Up 0.2%

Shares of Fifth Third Bancorp stock opened at $57.77 on Friday. Fifth Third Bancorp has a 12-month low of $40.04 and a 12-month high of $59.50. The firm has a market capitalization of $52.36 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $53.58 and its 200-day moving average is $50.85.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the business posted $0.88 EPS. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. Equities analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 54.61%.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the sale, the executive vice president owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Center for Financial Planning Inc. acquired a new stake in Fifth Third Bancorp during the 1st quarter worth approximately $25,000. SouthState Bank Corp boosted its holdings in shares of Fifth Third Bancorp by 74.7% in the first quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after buying an additional 236 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after buying an additional 517 shares during the period. Monetary Solutions Ltd bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $29,000. Finally, Leonteq Securities AG acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $30,000. 83.79% of the stock is currently owned by institutional investors.

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.