Fifth Third Bancorp (NASDAQ:FITB) PT Lowered to $41.00 at Evercore ISI

Fifth Third Bancorp (NASDAQ:FITB) had its price objective reduced by Evercore ISI from $42.00 to $41.00 in a research report released on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the financial services provider’s stock.

Several other analysts have also commented on FITB. Keefe, Bruyette & Woods reissued a market perform rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Wolfe Research raised Fifth Third Bancorp from a peer perform rating to an outperform rating and set a $43.00 price objective on the stock in a research note on Friday, May 31st. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a neutral rating to an overweight rating and increased their price target for the company from $37.50 to $39.50 in a research note on Wednesday, May 1st. Robert W. Baird reissued a neutral rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Finally, UBS Group reissued a neutral rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $37.26.

Fifth Third Bancorp Stock Up 1.8 %

Fifth Third Bancorp stock opened at $36.49 on Tuesday. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $39.14. The firm has a market cap of $24.96 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.48 and a beta of 1.24. The business’s 50-day moving average price is $36.92 and its 200 day moving average price is $35.54. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.78 earnings per share. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.27 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of institutional investors have recently modified their holdings of the stock. Dark Forest Capital Management LP bought a new position in shares of Fifth Third Bancorp during the third quarter worth about $247,000. LPL Financial LLC raised its stake in Fifth Third Bancorp by 10.1% in the third quarter. LPL Financial LLC now owns 415,108 shares of the financial services provider’s stock valued at $10,515,000 after purchasing an additional 38,118 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Fifth Third Bancorp by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 555,027 shares of the financial services provider’s stock worth $14,059,000 after acquiring an additional 6,860 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Fifth Third Bancorp by 119.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,375 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 2,384 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Fifth Third Bancorp by 6.7% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,123 shares of the financial services provider’s stock worth $484,000 after buying an additional 1,200 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.