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

Shares of Fifth Third Bancorp (NASDAQ:FITB) have earned a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $56.5625.

Several research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Royal Bank Of Canada lifted their price objective on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Argus boosted their price objective on Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Weiss Ratings downgraded Fifth Third Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 11th. Finally, UBS Group reiterated a “buy” rating and set a $59.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the sale, the executive vice president directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AE Wealth Management LLC grew its stake in Fifth Third Bancorp by 4.7% in the 3rd quarter. AE Wealth Management LLC now owns 348,001 shares of the financial services provider’s stock valued at $15,503,000 after acquiring an additional 15,627 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Fifth Third Bancorp by 2.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,023,145 shares of the financial services provider’s stock valued at $90,131,000 after purchasing an additional 48,080 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $1,314,000. Intact Investment Management Inc. increased its stake in shares of Fifth Third Bancorp by 24.5% during the third quarter. Intact Investment Management Inc. now owns 119,400 shares of the financial services provider’s stock worth $5,319,000 after purchasing an additional 23,500 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Fifth Third Bancorp by 10.9% during the 2nd quarter. Huntington National Bank now owns 121,225 shares of the financial services provider’s stock worth $4,986,000 after purchasing an additional 11,935 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $50.20 on Wednesday. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $55.44. The company’s 50 day moving average is $50.40 and its 200 day moving average is $46.18. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. The company has a market cap of $33.18 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.03 and a beta of 0.98.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. The business 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, sell-side analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 45.20%.

About Fifth Third Bancorp

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.