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

Shares of Fifth Third Bancorp (NASDAQ:FITBGet Rating) have received a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $45.47.

FITB has been the topic of a number of research analyst reports. Robert W. Baird raised Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Friday, June 17th. Jefferies Financial Group reduced their price target on shares of Fifth Third Bancorp from $47.00 to $39.00 in a research note on Monday, July 11th. The Goldman Sachs Group decreased their price objective on shares of Fifth Third Bancorp from $55.00 to $47.50 and set a “buy” rating for the company in a report on Tuesday, May 31st. Citigroup dropped their target price on Fifth Third Bancorp from $44.00 to $37.00 in a report on Tuesday, July 12th. Finally, Wolfe Research decreased their price target on Fifth Third Bancorp from $47.00 to $37.00 and set a “peer perform” rating for the company in a research note on Thursday, May 26th.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $35.03 on Friday. The firm’s 50 day moving average is $34.77 and its two-hundred day moving average is $37.77. The firm has a market capitalization of $24.04 billion, a P/E ratio of 10.58, a PEG ratio of 1.20 and a beta of 1.25. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.65. Fifth Third Bancorp has a 52 week low of $31.80 and a 52 week high of $50.64.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last posted its earnings results on Thursday, July 21st. The financial services provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.11). Fifth Third Bancorp had a net margin of 29.09% and a return on equity of 12.99%. During the same period last year, the firm earned $0.94 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 3.54 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.77%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, September 29th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 36.25%.

Insider Transactions at Fifth Third Bancorp

In related news, Director Mitchell Feiger sold 8,734 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $35.20, for a total value of $307,436.80. Following the completion of the transaction, the director now owns 11,030 shares of the company’s stock, valued at approximately $388,256. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its holdings in shares of Fifth Third Bancorp by 40.8% during the 2nd quarter. Federated Hermes Inc. now owns 634,359 shares of the financial services provider’s stock valued at $21,314,000 after acquiring an additional 183,699 shares in the last quarter. Brown Advisory Inc. increased its position in Fifth Third Bancorp by 42.5% in the 2nd quarter. Brown Advisory Inc. now owns 10,112 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 3,017 shares during the last quarter. Fundamentun LLC lifted its holdings in shares of Fifth Third Bancorp by 10.5% during the 2nd quarter. Fundamentun LLC now owns 10,237 shares of the financial services provider’s stock valued at $344,000 after buying an additional 969 shares during the last quarter. Amundi grew its stake in shares of Fifth Third Bancorp by 8.7% in the 2nd quarter. Amundi now owns 1,475,006 shares of the financial services provider’s stock valued at $47,509,000 after buying an additional 118,617 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in Fifth Third Bancorp by 23.8% in the second quarter. Verition Fund Management LLC now owns 72,133 shares of the financial services provider’s stock worth $2,424,000 after buying an additional 13,854 shares during the last quarter. 81.33% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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