Fifth Third Bancorp (NASDAQ:FITB) Given New $43.00 Price Target at Jefferies Financial Group

Fifth Third Bancorp (NASDAQ:FITBFree Report) had its price target increased by Jefferies Financial Group from $42.00 to $43.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other brokerages also recently commented on FITB. Morgan Stanley reissued an equal weight rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. UBS Group reissued a neutral rating and issued a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Robert W. Baird reaffirmed a neutral rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Evercore ISI dropped their price objective on Fifth Third Bancorp from $42.00 to $41.00 and set an in-line rating on the stock in a report on Tuesday, June 25th. Finally, Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $38.15.

View Our Latest Report on FITB

Fifth Third Bancorp Trading Down 0.5 %

Shares of FITB stock opened at $36.78 on Wednesday. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $39.14. The company has a 50 day moving average price of $36.91 and a 200 day moving average price of $35.62. The stock has a market capitalization of $25.16 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 3.28 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of large investors have recently added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Fifth Third Bancorp in the first quarter valued at about $29,000. GoalVest Advisory LLC raised its holdings in Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares during the last quarter. Denali Advisors LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at $36,000. Financial Management Professionals Inc. boosted its stake in Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at about $48,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Company Profile

(Get Free Report)

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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