Fifth Third Bancorp’s (FITB) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a report issued on Monday morning, Benzinga reports. The firm currently has a $40.00 price objective on the financial services provider’s stock, up from their prior price objective of $39.00.

Other analysts have also recently issued reports about the company. Evercore ISI raised their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an in-line rating in a research report on Thursday, March 28th. UBS Group reaffirmed a neutral rating and set a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Robert W. Baird reaffirmed a neutral rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Barclays increased their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an overweight rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada increased their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an outperform rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $36.31.

Fifth Third Bancorp Stock Up 0.8 %

Shares of Fifth Third Bancorp stock opened at $36.55 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The business’s 50 day simple moving average is $35.26 and its 200-day simple moving average is $31.97. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.38 and a beta of 1.27. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the prior year, the firm earned $0.78 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.83%. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Insider Activity

In other news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction 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 in the company, valued at $5,072,172.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders sold 46,357 shares of company stock worth $1,693,888 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of Fifth Third Bancorp by 57.5% during the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after acquiring an additional 269,152 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Fifth Third Bancorp by 11.7% during the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock worth $22,805,000 after acquiring an additional 69,273 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Fifth Third Bancorp by 48.0% during the fourth quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock worth $12,102,000 after acquiring an additional 113,838 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after acquiring an additional 393,937 shares in the last quarter. Finally, Vicus Capital raised its holdings in shares of Fifth Third Bancorp by 4.1% during the fourth quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 397 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.