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

Fifth Third Bancorp (NASDAQ:FITB) has been given an average recommendation of “Moderate Buy” by the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $52.15.

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Fifth Third Bancorp from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Janney Montgomery Scott boosted their target price on shares of Fifth Third Bancorp from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. UBS Group upped their price target on shares of Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. TD Cowen raised their price objective on Fifth Third Bancorp from $57.00 to $58.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Wall Street Zen upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares in the company, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Evan Bayh purchased 3,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were acquired at an average cost of $41.22 per share, with a total value of $123,660.00. Following the purchase, the director directly owned 84,942 shares of the company’s stock, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.53% of the stock is owned by company insiders.

Institutional Trading of Fifth Third Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of FITB. Wealthquest Corp lifted its holdings in Fifth Third Bancorp by 2.3% during the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock worth $493,000 after buying an additional 244 shares during the period. Tiemann Investment Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 3.9% in the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 250 shares during the period. Capital Investment Advisory Services LLC boosted its holdings in Fifth Third Bancorp by 1.1% in the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 251 shares during the last quarter. CENTRAL TRUST Co increased its position in Fifth Third Bancorp by 4.1% during the 2nd quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 260 shares during the period. Finally, Harbour Investments Inc. raised its holdings in Fifth Third Bancorp by 11.9% during the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 263 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 1.2%

Shares of FITB opened at $47.82 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $48.71. The firm has a market cap of $31.61 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.98 and a beta of 0.99. The business’s fifty day moving average is $44.27 and its 200-day moving average is $43.54.

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

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.3%. Fifth Third Bancorp’s dividend payout ratio is currently 47.76%.

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.