Fifth Third Bancorp (NASDAQ:FITB) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Fifth Third Bancorp (NASDAQ:FITB) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.31 and traded as high as $42.78. Fifth Third Bancorp shares last traded at $42.28, with a volume of 3,028,372 shares.

Analyst Ratings Changes

FITB has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Evercore ISI upped their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Piper Sandler raised their price objective on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Barclays upped their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and an average price target of $45.32.

Fifth Third Bancorp Stock Performance

The firm has a market capitalization of $28.35 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The business’s fifty day simple moving average is $45.42 and its 200-day simple moving average is $42.31.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Fifth Third Bancorp

A number of large investors have recently made changes to their positions in FITB. Principal Financial Group Inc. grew its position in Fifth Third Bancorp by 1.8% in the third quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider’s stock worth $35,194,000 after acquiring an additional 14,137 shares in the last quarter. 1ST Source Bank purchased a new position in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $211,000. Franklin Resources Inc. increased its position in shares of Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after purchasing an additional 409,292 shares during the last quarter. Tidal Investments LLC raised its holdings in Fifth Third Bancorp by 10.0% during the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 2,265 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Fifth Third Bancorp in the third quarter worth $191,000. 83.79% of the stock is currently owned by institutional investors.

About Fifth Third Bancorp

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.