Fifth Third Bancorp (NASDAQ:FITB) Price Target Increased to $39.00 by Analysts at DA Davidson

Fifth Third Bancorp (NASDAQ:FITB) had its price target lifted by DA Davidson from $37.00 to $39.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

FITB has been the topic of several other reports. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a report on Monday. Royal Bank of Canada upped their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an outperform rating in a research report on Monday, January 22nd. Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Morgan Stanley upped their price objective on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Finally, Evercore ISI upped their price objective on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an in-line rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $36.31.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $36.55 on Monday. The firm has a 50 day moving average of $35.26 and a 200-day moving average of $31.97. The stock has a market capitalization of $24.90 billion, a PE ratio of 11.60, a PEG ratio of 1.38 and a beta of 1.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period in the previous year, the company earned $0.78 EPS. On average, equities research analysts predict that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders have sold a total of 46,357 shares of company stock valued at $1,693,888 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nordea Investment Management AB lifted its stake in shares of Fifth Third Bancorp by 57.5% in the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock valued at $25,551,000 after buying an additional 269,152 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Fifth Third Bancorp by 11.7% in the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock valued at $22,805,000 after purchasing an additional 69,273 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Fifth Third Bancorp by 48.0% in the fourth quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock valued at $12,102,000 after purchasing an additional 113,838 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after purchasing an additional 393,937 shares during the last quarter. Finally, Vicus Capital raised its holdings in shares of Fifth Third Bancorp by 4.1% in the fourth quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 397 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

About Fifth Third Bancorp

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.