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

Shares of Fifth Third Bancorp (NASDAQ:FITB – Get Rating) have been given a consensus rating of “Moderate Buy” by the sixteen ratings firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $40.57.

A number of analysts have issued reports on FITB shares. Royal Bank of Canada decreased their price target on Fifth Third Bancorp from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, October 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $37.00 price target on shares of Fifth Third Bancorp in a report on Monday, December 5th. StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 18th. Deutsche Bank Aktiengesellschaft reduced their target price on Fifth Third Bancorp from $44.00 to $37.00 in a report on Friday, January 6th. Finally, Barclays reduced their target price on Fifth Third Bancorp from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, January 3rd.

Insider Activity at Fifth Third Bancorp

In related news, EVP Robert P. Shaffer sold 10,209 shares of the business’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $35.76, for a total value of $365,073.84. Following the transaction, the executive vice president now owns 69,534 shares in the company, valued at approximately $2,486,535.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caliber Wealth Management LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $423,000. Pallas Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $1,123,000. Bullseye Investment Management LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $2,714,000. Empirical Finance LLC increased its position in Fifth Third Bancorp by 8.8% during the 4th quarter. Empirical Finance LLC now owns 18,334 shares of the financial services provider’s stock worth $602,000 after purchasing an additional 1,476 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Fifth Third Bancorp by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 44,300 shares of the financial services provider’s stock worth $1,453,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

Fifth Third Bancorp Trading Down 1.0 %

FITB opened at $35.15 on Friday. Fifth Third Bancorp has a 12 month low of $30.92 and a 12 month high of $50.13. The stock has a market capitalization of $24.13 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.11 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.77. The business has a fifty day moving average price of $33.91 and a 200 day moving average price of $34.29.

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fifth Third Bancorp had a return on equity of 15.48% and a net margin of 26.15%. During the same period in the previous year, the business earned $0.90 EPS. Sell-side analysts expect that Fifth Third Bancorp will post 3.79 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, December 29th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 39.29%.

Fifth Third Bancorp Company Profile

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Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact.