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

Shares of Fifth Third Bancorp (NASDAQ:FITB) have earned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $56.5625.

Several research firms recently weighed in on FITB. Wolfe Research raised their target price on shares of Fifth Third Bancorp from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Robert W. Baird lifted their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Janney Montgomery Scott upped their target price on shares of Fifth Third Bancorp from $51.00 to $56.25 and gave the company a “buy” rating in a report on Wednesday, January 21st. Stephens raised their target price on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, Piper Sandler boosted their price target on Fifth Third Bancorp from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st.

Fifth Third Bancorp Stock Performance

FITB opened at $53.06 on Wednesday. The business’s 50-day simple moving average is $49.97 and its 200 day simple moving average is $45.80. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $55.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market capitalization of $35.08 billion, a PE ratio of 14.99, a PEG ratio of 1.07 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results 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 13.53% and a net margin of 19.50%.The firm had revenue of $3.82 billion during the quarter. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. Fifth Third Bancorp’s payout ratio is presently 45.20%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Westside Investment Management Inc. lifted its position in Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 292 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Fifth Third Bancorp by 501.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 517 shares during the period. Leonteq Securities AG acquired a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $30,000. Evolution Wealth Management Inc. acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $26,000. Finally, United Community Bank boosted its stake in Fifth Third Bancorp by 581.0% in the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 581 shares during the period. Institutional investors own 83.79% of the company’s stock.

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.