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

Fifth Third Bancorp (NASDAQ:FITB) has earned a consensus rating of “Moderate Buy” from the twenty-two analysts that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $50.75.

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, October 7th. Janney Montgomery Scott boosted their price target on shares of Fifth Third Bancorp from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. TD Cowen boosted their price target on shares of Fifth Third Bancorp from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Robert W. Baird boosted their target price on Fifth Third Bancorp from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Fifth Third Bancorp in a research report on Wednesday, October 8th.

Insider Activity

In other news, Director Evan Bayh purchased 3,000 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were purchased at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the completion of the purchase, the director owned 84,942 shares in the company, valued at approximately $3,501,309.24. This represents a 3.66% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Large investors have recently bought and sold shares of the business. Westside Investment Management Inc. boosted its position in Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares in the last quarter. Evolution Wealth Management Inc. acquired a new position in Fifth Third Bancorp in the 2nd quarter worth approximately $26,000. United Community Bank lifted its holdings in shares of Fifth Third Bancorp by 581.0% in the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after buying an additional 581 shares during the period. Activest Wealth Management increased its holdings in Fifth Third Bancorp by 1,043.3% in the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after buying an additional 626 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Fifth Third Bancorp in the 1st quarter valued at $27,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $45.46 on Friday. The firm has a fifty day simple moving average of $42.84 and a two-hundred day simple moving average of $42.40. The firm has a market cap of $30.05 billion, a PE ratio of 13.57, a P/E/G ratio of 0.91 and a beta of 0.99. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $47.86.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The company had revenue of $3.82 billion during the quarter. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.5%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.76%.

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.