Fifth Third Bancorp (NASDAQ:FITB) Receives Consensus Rating of “Buy” from Brokerages

Shares of Fifth Third Bancorp (NASDAQ:FITBGet Rating) have earned an average recommendation of “Buy” from the nineteen research firms that are covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $47.86.

A number of brokerages have weighed in on FITB. Wedbush raised their target price on shares of Fifth Third Bancorp to $48.00 and gave the company a “na” rating in a research note on Tuesday, May 17th. Wolfe Research dropped their price target on shares of Fifth Third Bancorp from $47.00 to $37.00 and set a “peer perform” rating on the stock in a research note on Thursday, May 26th. StockNews.com started coverage on shares of Fifth Third Bancorp in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, April 25th. Finally, Wells Fargo & Company upgraded shares of Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research note on Thursday, April 28th.

In related news, CEO Greg D. Carmichael sold 50,000 shares of Fifth Third Bancorp stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the transaction, the chief executive officer now directly owns 644,745 shares of the company’s stock, valued at approximately $25,822,037.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $36.93, for a total transaction of $92,325.00. Following the transaction, the executive vice president now directly owns 45,844 shares of the company’s stock, valued at $1,693,018.92. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Large investors have recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in Fifth Third Bancorp by 2.4% during the 4th quarter. CIBC Asset Management Inc now owns 65,612 shares of the financial services provider’s stock valued at $2,857,000 after purchasing an additional 1,543 shares in the last quarter. Castle Rock Wealth Management LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $202,000. Everence Capital Management Inc. boosted its holdings in Fifth Third Bancorp by 44.8% during the fourth quarter. Everence Capital Management Inc. now owns 28,220 shares of the financial services provider’s stock worth $1,229,000 after buying an additional 8,730 shares in the last quarter. CWM LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $188,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Fifth Third Bancorp by 42.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 214,612 shares of the financial services provider’s stock worth $9,346,000 after buying an additional 64,149 shares in the last quarter. Institutional investors and hedge funds own 81.00% of the company’s stock.

Shares of NASDAQ:FITB opened at $38.88 on Thursday. Fifth Third Bancorp has a 12 month low of $34.35 and a 12 month high of $50.64. The company has a market cap of $26.58 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.31 and a beta of 1.30. The company has a 50-day moving average price of $38.63 and a 200-day moving average price of $43.24. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.60.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last announced its earnings results on Tuesday, April 19th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Fifth Third Bancorp had a net margin of 31.14% and a return on equity of 12.99%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted $0.93 EPS. As a group, research analysts forecast that Fifth Third Bancorp will post 3.66 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Thursday, March 31st were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.09%. Fifth Third Bancorp’s dividend payout ratio is currently 34.38%.

Fifth Third Bancorp Company Profile (Get Rating)

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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