Fifth Third Bancorp (NASDAQ:FITB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given an average rating of “Moderate Buy” by the eighteen analysts that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $45.32.

Several analysts have issued reports on FITB shares. Piper Sandler upped their target price on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Evercore ISI upped their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Barclays raised their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction 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 owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. raised its position in Fifth Third Bancorp by 15.1% in the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock valued at $3,078,000 after purchasing an additional 9,444 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Fifth Third Bancorp by 13.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock worth $19,776,000 after buying an additional 55,081 shares during the period. Icon Wealth Advisors LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at approximately $541,000. First National Trust Co lifted its stake in Fifth Third Bancorp by 44.9% in the third quarter. First National Trust Co now owns 77,099 shares of the financial services provider’s stock worth $3,303,000 after acquiring an additional 23,890 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Fifth Third Bancorp by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock worth $356,031,000 after acquiring an additional 281,494 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $43.25 on Friday. The company has a market cap of $29.00 billion, a P/E ratio of 14.37, a P/E/G 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’s 50-day moving average price is $45.50 and its 200-day moving average price is $42.06. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92.

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

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.42%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

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.