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

Fifth Third Bancorp (NASDAQ:FITB) has earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $45.32.

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Piper Sandler increased their target price on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Evercore ISI increased their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Barclays boosted their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st.

Fifth Third Bancorp Stock Up 0.3 %

FITB stock opened at $43.04 on Friday. The business has a 50 day moving average of $45.61 and a 200 day moving average of $42.00. The firm has a market cap of $28.86 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. Fifth Third Bancorp’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. On average, research analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is presently 49.17%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the period. Legacy Investment Solutions LLC bought a new stake in Fifth Third Bancorp during the 3rd quarter valued at approximately $36,000. Hexagon Capital Partners LLC lifted its holdings in Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in Fifth Third Bancorp in the 3rd quarter worth approximately $39,000. Finally, American Capital Advisory LLC purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.