Fifth Third Bancorp (NASDAQ:FITB) Receives $52.15 Consensus PT from Analysts

Fifth Third Bancorp (NASDAQ:FITB) has been given an average rating of “Moderate Buy” by the twenty-two ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $52.95.

A number of analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Morgan Stanley set a $60.00 price target on shares of Fifth Third Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Cowen reaffirmed a “buy” rating on shares of Fifth Third Bancorp in a report on Monday, October 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fifth Third Bancorp in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their target price on Fifth Third Bancorp from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, December 12th.

Insider Activity

In related news, Director Evan Bayh purchased 3,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were bought at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the transaction, the director owned 84,942 shares of the company’s stock, valued at $3,501,309.24. This represents a 3.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wealthquest Corp boosted its stake in Fifth Third Bancorp by 2.3% during the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 244 shares in the last quarter. Tiemann Investment Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 3.9% in the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after buying an additional 250 shares during the period. Capital Investment Advisory Services LLC lifted its holdings in shares of Fifth Third Bancorp by 1.1% in the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 251 shares during the period. CENTRAL TRUST Co boosted its stake in Fifth Third Bancorp by 4.1% during the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after buying an additional 260 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in Fifth Third Bancorp by 11.9% during the second quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 263 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 1.9%

Shares of NASDAQ FITB opened at $48.62 on Tuesday. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.11. The company has a market cap of $32.14 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. The stock’s 50 day simple moving average is $44.80 and its 200 day simple moving average is $43.86.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The firm had revenue of $3.82 billion for the quarter. Equities research analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 47.76%.

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.