Fifth Third Bancorp (NASDAQ:FITB) Receives $46.56 Consensus Price Target from Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been assigned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $46.78.

A number of research analysts recently issued reports on FITB shares. Truist Financial decreased their target price on Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Citigroup decreased their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Barclays decreased their price target on Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Morgan Stanley decreased their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, Cowen assumed coverage on Fifth Third Bancorp in a report on Wednesday, May 14th. They set a “buy” rating for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eads & Heald Wealth Management lifted its holdings in shares of Fifth Third Bancorp by 3.0% in the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 235 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Fifth Third Bancorp by 3.6% in the 4th quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock valued at $285,000 after buying an additional 236 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Fifth Third Bancorp by 4.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after buying an additional 246 shares in the last quarter. Brooklyn Investment Group lifted its stake in Fifth Third Bancorp by 9.1% in the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock valued at $131,000 after buying an additional 257 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Fifth Third Bancorp by 16.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider’s stock valued at $79,000 after buying an additional 261 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 3.8%

FITB opened at $37.59 on Monday. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The business has a fifty day simple moving average of $36.98 and a 200-day simple moving average of $41.64. The firm has a market cap of $25.09 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.42 and a beta of 0.89. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same period last year, the business posted $0.70 earnings per share. On average, equities analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is presently 46.98%.

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.