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

Shares of Fifth Third Bancorp (NASDAQ:FITB) have received an average rating of “Moderate Buy” from the twenty research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $55.6625.

Several equities research analysts have weighed in on FITB shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fifth Third Bancorp in a report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 19th. UBS Group upgraded shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday, January 6th. Barclays lifted their target price on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, Truist Financial increased their price target on shares of Fifth Third Bancorp from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd.

Insiders Place Their Bets

In related news, 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 directly owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by insiders.

Institutional Trading of Fifth Third Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of FITB. Austin Private Wealth LLC lifted its position in Fifth Third Bancorp by 2.7% during the 4th quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock valued at $407,000 after acquiring an additional 228 shares during the period. Wealthquest Corp lifted its holdings in shares of Fifth Third Bancorp by 2.3% during the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 244 shares during the last quarter. Tiemann Investment Advisors LLC boosted its position in shares of Fifth Third Bancorp by 3.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 250 shares in the last quarter. Capital Investment Advisory Services LLC grew its stake in shares of Fifth Third Bancorp by 1.1% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 251 shares during the last quarter. Finally, 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 buying an additional 260 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Down 0.2%

Shares of FITB opened at $50.78 on Friday. The firm has a fifty day simple moving average of $46.83 and a two-hundred day simple moving average of $44.60. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $53.33. The stock has a market capitalization of $33.57 billion, a P/E ratio of 14.35, a PEG ratio of 1.02 and a beta of 0.97. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. The firm had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. On average, research analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 45.20%.

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.