Fifth Third Bancorp’s (FITB) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research note published on Monday,Benzinga reports. They currently have a $54.00 price target on the financial services provider’s stock, down from their prior price target of $57.00.

Several other research firms also recently weighed in on FITB. DA Davidson boosted their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Truist Financial reduced their price target on shares of Fifth Third Bancorp from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Citigroup lifted their price target on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Barclays raised their target price on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, UBS Group restated a “buy” rating and issued a $59.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, February 4th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.84.

Fifth Third Bancorp Trading Up 0.3%

FITB opened at $44.68 on Monday. The stock has a market capitalization of $40.46 billion, a PE ratio of 12.62, a P/E/G ratio of 0.87 and a beta of 0.96. The firm’s fifty day moving average price is $49.50 and its 200 day moving average price is $46.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $55.44.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio is currently 45.20%.

Institutional Trading of Fifth Third Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Evolution Wealth Management Inc. bought a new stake in Fifth Third Bancorp during the second quarter worth approximately $26,000. Westside Investment Management Inc. raised its stake in Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares during the period. Harbor Investment Advisory LLC lifted its holdings in shares of Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares in the last quarter. Monetary Solutions Ltd purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $29,000. Finally, United Community Bank boosted its position in shares of Fifth Third Bancorp by 581.0% in the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares during the period. 83.79% of the stock is currently owned by institutional investors.

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.