Jefferies Financial Group Issues Positive Forecast for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB) had its price objective upped by Jefferies Financial Group from $55.00 to $60.00 in a report published on Friday,MarketScreener reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the stock. UBS Group increased their target price on shares of Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Argus boosted their price target on Fifth Third Bancorp from $46.00 to $49.00 in a research note on Tuesday, October 7th. Royal Bank Of Canada increased their price target on Fifth Third Bancorp from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Evercore ISI lowered their price objective on Fifth Third Bancorp from $49.00 to $47.00 in a research note on Thursday, October 30th. Finally, DA Davidson upped their target price on Fifth Third Bancorp from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Fifth Third Bancorp Stock Up 0.4%

FITB stock opened at $47.83 on Friday. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $48.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $31.62 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.97 and a beta of 0.99. The business’s fifty day moving average price is $43.52 and its two-hundred day moving average price is $43.10.

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

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.76%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Evan Bayh purchased 3,000 shares of the stock in a transaction dated Monday, October 20th. The stock was bought at an average price of $41.22 per share, with a total value of $123,660.00. Following the acquisition, the director owned 84,942 shares of the company’s stock, valued at approximately $3,501,309.24. This represents a 3.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the sale, the executive vice president 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 SEC filing for this sale provides additional information. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in FITB. Norges Bank bought a new position in Fifth Third Bancorp in the 2nd quarter valued at approximately $357,440,000. Invesco Ltd. increased its holdings in shares of Fifth Third Bancorp by 16.6% during the second quarter. Invesco Ltd. now owns 20,677,686 shares of the financial services provider’s stock worth $850,473,000 after buying an additional 2,941,333 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Fifth Third Bancorp by 16.7% during the 3rd quarter. Bank of America Corp DE now owns 16,037,185 shares of the financial services provider’s stock valued at $714,457,000 after acquiring an additional 2,293,939 shares in the last quarter. Capital World Investors grew its position in Fifth Third Bancorp by 6.2% during the 3rd quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider’s stock worth $1,373,490,000 after acquiring an additional 1,803,861 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Fifth Third Bancorp by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock worth $3,448,743,000 after acquiring an additional 1,301,624 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

About Fifth Third Bancorp

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.