Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $40.15.
A number of brokerages have recently issued reports on FITB. Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Friday, May 31st. Bank of America increased their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Finally, Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd.
Get Our Latest Stock Report on Fifth Third Bancorp
Insider Transactions at Fifth Third Bancorp
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Financial Synergies Wealth Advisors Inc. bought a new position in Fifth Third Bancorp during the first quarter valued at about $29,000. American Capital Advisory LLC acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at about $34,000. Denali Advisors LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth $36,000. Centerpoint Advisors LLC raised its position in shares of Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 750 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in Fifth Third Bancorp during the 4th quarter valued at about $48,000. 83.79% of the stock is owned by institutional investors.
Fifth Third Bancorp Trading Down 0.7 %
NASDAQ FITB opened at $41.99 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $28.72 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.99 and a beta of 1.24. The company’s 50 day moving average price is $37.47 and its 200 day moving average price is $36.22. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $42.53.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same period last year, the firm posted $0.87 earnings per share. On average, sell-side analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current year.
Fifth Third Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, June 28th. Fifth Third Bancorp’s payout ratio is 44.44%.
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.
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