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

Fifth Third Bancorp (NASDAQ:FITB) 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.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares in the company, valued at approximately $863,802.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,000 shares of company stock worth $1,523,670. Insiders own 0.50% of the company’s stock.

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) 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.