Fifth Third Bancorp (NASDAQ:FITB) Receives Average Rating of “Hold” from Analysts

Fifth Third Bancorp (NASDAQ:FITBGet Rating) has been assigned an average rating of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $49.04.

Several brokerages have recently issued reports on FITB. Barclays raised their target price on Fifth Third Bancorp from $51.00 to $53.00 in a research report on Monday, January 3rd. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Friday, January 28th. Robert W. Baird downgraded Fifth Third Bancorp from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Friday, January 7th. Wolfe Research downgraded Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $59.00 to $47.00 in a research note on Thursday, April 7th. Finally, Morgan Stanley downgraded Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $56.00 to $50.00 in a research note on Monday, March 28th.

In related news, CEO Greg D. Carmichael sold 67,687 shares of the firm’s stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $49.21, for a total transaction of $3,330,877.27. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Timothy Spence sold 4,558 shares of the firm’s stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $48.07, for a total value of $219,103.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,745 shares of company stock worth $3,669,055. 0.67% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. D Orazio & Associates Inc. bought a new stake in shares of Fifth Third Bancorp during the third quarter valued at approximately $25,000. KB Financial Partners LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $27,000. Consolidated Planning Corp bought a new position in shares of Fifth Third Bancorp during the third quarter valued at $28,000. Johnson Financial Group Inc. bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $31,000. Finally, Wagner Wealth Management LLC lifted its holdings in Fifth Third Bancorp by 82.5% in the fourth quarter. Wagner Wealth Management LLC now owns 794 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 359 shares during the period. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of Fifth Third Bancorp stock opened at $40.79 on Wednesday. Fifth Third Bancorp has a 1 year low of $34.35 and a 1 year high of $50.64. The firm has a market cap of $27.89 billion, a PE ratio of 10.91, a P/E/G ratio of 1.34 and a beta of 1.29. The stock has a fifty day moving average price of $44.80 and a 200-day moving average price of $44.80. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.88 and a quick ratio of 0.86.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last announced its earnings results on Tuesday, April 19th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.01). Fifth Third Bancorp had a net margin of 33.25% and a return on equity of 13.55%. During the same period in the previous year, the business earned $0.93 EPS. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Thursday, March 31st were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, March 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.94%. Fifth Third Bancorp’s dividend payout ratio is 32.09%.

About Fifth Third Bancorp (Get Rating)

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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