Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) PT at $35.30

Fifth Third Bancorp (NASDAQ:FITB) has received a consensus rating of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $35.30.

A number of research analysts have weighed in on FITB shares. Royal Bank of Canada boosted their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Barclays boosted their price objective on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group boosted their target price on shares of Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Keefe, Bruyette & Woods lowered shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $33.00 to $37.00 in a research note on Tuesday, January 9th. Finally, Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 26,500 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock valued at $3,012,472,000 after acquiring an additional 734,403 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Fifth Third Bancorp by 0.4% during the second quarter. BlackRock Inc. now owns 59,032,045 shares of the financial services provider’s stock valued at $1,547,230,000 after acquiring an additional 262,637 shares in the last quarter. Capital World Investors increased its holdings in shares of Fifth Third Bancorp by 34.2% during the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock valued at $1,416,985,000 after acquiring an additional 10,472,392 shares in the last quarter. State Street Corp increased its holdings in shares of Fifth Third Bancorp by 2.3% during the second quarter. State Street Corp now owns 31,753,969 shares of the financial services provider’s stock valued at $842,650,000 after acquiring an additional 709,615 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after acquiring an additional 1,500,653 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 0.6 %

Shares of FITB opened at $36.03 on Wednesday. The company’s fifty day moving average is $34.64 and its 200 day moving average is $30.61. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.36. The stock has a market capitalization of $24.54 billion, a PE ratio of 11.15, a P/E/G ratio of 1.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the business posted $1.04 earnings per share. Sell-side analysts expect that Fifth Third Bancorp will post 3.16 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 43.34%.

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.