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

Shares of Fifth Third Bancorp (NASDAQ:FITB) have earned an average recommendation of “Moderate Buy” from the twenty research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $56.5625.

FITB has been the subject of a number of research reports. DA Davidson upped their price objective on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Janney Montgomery Scott increased their price target on shares of Fifth Third Bancorp from $51.00 to $56.25 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Argus boosted their price objective on shares of Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Finally, Evercore upped their price objective on shares of Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $53.62 on Wednesday. The company’s fifty day moving average price is $50.29 and its 200-day moving average price is $46.05. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $35.45 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.09 and a beta of 0.98. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The company had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. On average, equities research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is presently 45.20%.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Large investors have recently bought and sold shares of the stock. Evolution Wealth Management Inc. bought a new position in shares of Fifth Third Bancorp in the second quarter worth approximately $26,000. Westside Investment Management Inc. boosted its position in Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after buying an additional 292 shares during the period. Harbor Investment Advisory LLC boosted its position in Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after buying an additional 517 shares during the period. United Community Bank grew its holdings in Fifth Third Bancorp by 581.0% in the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 581 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in shares of Fifth Third Bancorp in the fourth quarter valued at about $30,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.