Barclays Issues Positive Forecast for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB) had its price target raised by Barclays from $51.00 to $56.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Evercore ISI increased their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.62.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $42.94 on Monday. The business has a fifty day simple moving average of $45.31 and a 200-day simple moving average of $42.49. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The company has a market cap of $28.79 billion, a P/E ratio of 14.27, a P/E/G ratio of 2.18 and a beta of 1.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company earned $0.92 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Insiders Place Their Bets

In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Institutional Trading of Fifth Third Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Fifth Third Bancorp by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after purchasing an additional 732,651 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Fifth Third Bancorp by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after buying an additional 281,494 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Fifth Third Bancorp by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after buying an additional 399,827 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after acquiring an additional 409,292 shares in the last quarter. Finally, Smead Capital Management Inc. grew its position in shares of Fifth Third Bancorp by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock worth $95,278,000 after acquiring an additional 75,024 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

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.