Fifth Third Bancorp’s (FITB) Equal Weight Rating Reaffirmed at Stephens

Stephens reissued their equal weight rating on shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) in a report released on Tuesday, MarketBeat reports. Stephens currently has a $41.00 price target on the financial services provider’s stock.

FITB has been the topic of a number of other research reports. The Goldman Sachs Group lifted their price objective on Fifth Third Bancorp from $32.00 to $36.00 and gave the stock a buy rating in a research report on Monday, December 18th. Morgan Stanley lifted their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. StockNews.com downgraded Fifth Third Bancorp from a hold rating to a sell rating in a research report on Monday, November 20th. Barclays lifted their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an overweight rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods downgraded Fifth Third Bancorp from an outperform rating to a market perform rating and boosted their price objective for the company from $33.00 to $37.00 in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $35.30.

Get Our Latest Stock Analysis on Fifth Third Bancorp

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $37.01 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day moving average price is $34.52 and its 200-day moving average price is $30.37. The firm has a market capitalization of $25.21 billion, a PE ratio of 11.46, a P/E/G ratio of 1.35 and a beta of 1.26. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.36.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business posted $1.04 earnings per share. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.18 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 43.34%.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds have recently bought and sold shares of FITB. Fairfield Bush & CO. boosted its stake in Fifth Third Bancorp by 1.4% in the first quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 502 shares during the period. Aviva PLC boosted its stake in Fifth Third Bancorp by 22.0% in the first quarter. Aviva PLC now owns 255,764 shares of the financial services provider’s stock valued at $11,008,000 after acquiring an additional 46,064 shares during the period. Prudential PLC acquired a new position in Fifth Third Bancorp in the first quarter valued at approximately $754,000. Cetera Investment Advisers boosted its stake in Fifth Third Bancorp by 13.0% in the first quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider’s stock valued at $2,365,000 after acquiring an additional 6,341 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in Fifth Third Bancorp by 60.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider’s stock valued at $5,224,000 after acquiring an additional 45,910 shares during the period. 77.96% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Company Profile

(Get Free Report)

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

Recommended Stories

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.