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

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given an average recommendation of “Moderate Buy” by the twenty-one analysts that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $57.3375.

Several equities analysts have recently issued reports on FITB shares. Piper Sandler reissued an “overweight” rating and issued a $54.00 price objective (down from $57.00) on shares of Fifth Third Bancorp in a report on Monday, March 30th. Stephens started coverage on Fifth Third Bancorp in a report on Monday, June 15th. They issued an “equal weight” rating and a $58.00 price objective for the company. Barclays boosted their price objective on Fifth Third Bancorp from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Jefferies Financial Group boosted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Finally, Morgan Stanley decreased their price objective on Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the sale, the executive vice president owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently made changes to their positions in the stock. Center for Financial Planning Inc. purchased a new position in Fifth Third Bancorp in the first quarter worth approximately $25,000. SouthState Bank Corp grew its position in Fifth Third Bancorp by 74.7% in the first quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 236 shares during the period. Harbor Investment Advisory LLC grew its position in Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 517 shares during the period. Monetary Solutions Ltd purchased a new position in Fifth Third Bancorp in the fourth quarter worth approximately $29,000. Finally, Leonteq Securities AG purchased a new position in Fifth Third Bancorp in the fourth quarter worth approximately $30,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $53.61 on Tuesday. The stock has a 50-day moving average of $50.42 and a two-hundred day moving average of $49.33. Fifth Third Bancorp has a one year low of $39.09 and a one year high of $55.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $48.59 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.09 and a beta of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, research analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. Fifth Third Bancorp’s dividend payout ratio is presently 53.69%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.