Fifth Third Bancorp (NASDAQ:FITB) Price Target Cut to $51.00 by Analysts at Evercore

Fifth Third Bancorp (NASDAQ:FITB) had its price target reduced by Evercore from $57.00 to $51.00 in a report released on Monday,MarketScreener reports.

Several other analysts have also weighed in on the company. Janney Montgomery Scott lifted their price objective on Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Morgan Stanley decreased their price objective on Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Royal Bank Of Canada lifted their price objective on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Truist Financial decreased their price objective on Fifth Third Bancorp from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. 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 company presently has an average rating of “Moderate Buy” and an average target price of $55.84.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $47.56 on Monday. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $55.44. The firm has a market capitalization of $43.07 billion, a PE ratio of 13.44, a PEG ratio of 0.93 and a beta of 0.95. The business’s 50 day moving average is $49.10 and its 200-day moving average is $46.58. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.4%. Fifth Third Bancorp’s payout ratio is currently 45.20%.

Institutional Trading of Fifth Third Bancorp

Institutional investors have recently bought and sold shares of the stock. Evolution Wealth Management Inc. acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at $26,000. Westside Investment Management Inc. boosted its stake in Fifth Third Bancorp by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after buying an additional 292 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after buying an additional 517 shares in the last quarter. Monetary Solutions Ltd acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at $29,000. 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 buying an additional 581 shares in the last quarter. Institutional investors and hedge funds 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.