Fifth Third Bancorp (NASDAQ:FITB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given an average rating of “Hold” by the sixteen analysts that are presently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $37.26.

FITB has been the subject of several research analyst reports. UBS Group restated a “neutral” rating and issued a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Stephens reaffirmed an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Robert W. Baird restated a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 22nd.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $36.98 on Friday. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $39.14. The stock has a market capitalization of $25.30 billion, a PE ratio of 11.74, a PEG ratio of 2.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s fifty day moving average is $36.91 and its 200-day moving average is $35.60.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.28 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Fifth Third Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Hawaiian Bank grew its stake in shares of Fifth Third Bancorp by 15.1% during the 2nd quarter. First Hawaiian Bank now owns 24,408 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 3,194 shares in the last quarter. GAMMA Investing LLC increased its stake in Fifth Third Bancorp by 179.4% in the 2nd quarter. GAMMA Investing LLC now owns 20,843 shares of the financial services provider’s stock valued at $761,000 after buying an additional 13,382 shares during the last quarter. Bright Futures Wealth Management LLC. bought a new stake in Fifth Third Bancorp during the 1st quarter worth about $347,000. Abich Financial Wealth Management LLC boosted its stake in shares of Fifth Third Bancorp by 39.6% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,224 shares of the financial services provider’s stock worth $120,000 after buying an additional 915 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 85.1% in the 1st quarter. Cetera Advisors LLC now owns 50,353 shares of the financial services provider’s stock valued at $1,874,000 after acquiring an additional 23,146 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

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.