Robert W. Baird Issues Positive Forecast for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB) had its price objective raised by Robert W. Baird from $55.00 to $56.00 in a research note issued to investors on Monday morning,MarketScreener reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on FITB. Wolfe Research lowered their price target on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Morgan Stanley cut their price objective on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Royal Bank Of Canada boosted their target price on shares of Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Weiss Ratings raised shares of Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Finally, Barclays raised their price target on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.56.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $50.98 on Monday. Fifth Third Bancorp has a one year low of $32.79 and a one year high of $55.44. The company has a market cap of $46.17 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.03 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The business’s 50 day moving average price is $48.59 and its 200 day moving average price is $46.91.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.87. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the business earned $0.71 EPS. On average, research analysts predict that Fifth Third Bancorp will post 4.06 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp’s payout ratio is 53.69%.

Institutional Investors Weigh In On Fifth Third Bancorp

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in Fifth Third Bancorp by 7.1% in the 1st quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 916 shares during the last quarter. Woodline Partners LP lifted its stake in Fifth Third Bancorp by 40.5% during the first quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock worth $2,218,000 after purchasing an additional 16,323 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Fifth Third Bancorp by 45.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,428 shares of the financial services provider’s stock worth $100,000 after buying an additional 759 shares during the period. Brown Advisory Inc. boosted its position in shares of Fifth Third Bancorp by 5.0% during the second quarter. Brown Advisory Inc. now owns 10,252 shares of the financial services provider’s stock worth $422,000 after buying an additional 484 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of Fifth Third Bancorp in the second quarter valued at $968,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Company Profile

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.