Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) Price Target at $46.64

Fifth Third Bancorp (NASDAQ:FITB) has earned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $48.19.

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Truist Financial boosted their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. DA Davidson raised their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Citigroup dropped their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th.

Fifth Third Bancorp Trading Down 4.8 %

Shares of FITB stock opened at $33.75 on Friday. The company has a market capitalization of $22.55 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $41.50 and its two-hundred day moving average is $43.36. Fifth Third Bancorp has a twelve month low of $32.75 and a twelve month high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.39%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Insider Buying and Selling

In related news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Institutional Trading of Fifth Third Bancorp

A number of institutional investors have recently modified their holdings of FITB. D.A. Davidson & CO. lifted its holdings in shares of Fifth Third Bancorp by 1.4% during the 3rd quarter. D.A. Davidson & CO. now owns 21,423 shares of the financial services provider’s stock valued at $918,000 after acquiring an additional 289 shares in the last quarter. FMR LLC boosted its position in Fifth Third Bancorp by 5.7% in the 3rd quarter. FMR LLC now owns 1,692,599 shares of the financial services provider’s stock valued at $72,511,000 after buying an additional 91,574 shares during the last quarter. Townsquare Capital LLC acquired a new stake in shares of Fifth Third Bancorp during the third quarter valued at about $804,000. CreativeOne Wealth LLC purchased a new stake in shares of Fifth Third Bancorp during the third quarter worth about $271,000. Finally, Fiduciary Trust Co lifted its stake in shares of Fifth Third Bancorp by 36.8% in the third quarter. Fiduciary Trust Co now owns 26,755 shares of the financial services provider’s stock worth $1,146,000 after acquiring an additional 7,201 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.