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

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $45.92.

A number of equities analysts recently commented on FITB shares. Truist Financial started coverage on shares of Fifth Third Bancorp in a research report on Tuesday, January 7th. They issued a “buy” rating and a $51.00 target price on the stock. Piper Sandler lifted their price objective on Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Citigroup increased their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Barclays lifted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods increased their price objective on 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.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction 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 owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of FITB. Acadian Asset Management LLC purchased a new stake in Fifth Third Bancorp in the second quarter worth about $384,000. Choreo LLC purchased a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth approximately $498,000. DekaBank Deutsche Girozentrale grew its stake in shares of Fifth Third Bancorp by 0.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 147,590 shares of the financial services provider’s stock worth $5,196,000 after buying an additional 698 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Fifth Third Bancorp by 3.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,701,734 shares of the financial services provider’s stock valued at $62,096,000 after buying an additional 56,298 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Fifth Third Bancorp during the second quarter valued at $345,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

FITB opened at $41.73 on Tuesday. The stock has a market capitalization of $27.98 billion, a P/E ratio of 13.86, a PEG ratio of 2.18 and a beta of 1.24. 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 has a 12-month low of $32.29 and a 12-month high of $49.07. The stock has a 50-day moving average price of $45.17 and a 200-day moving average price of $42.70.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results 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). The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. Equities analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.55%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

About Fifth Third Bancorp

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.