Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) has received an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $41.78.
FITB has been the topic of a number of recent research reports. Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Royal Bank of Canada raised their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Evercore ISI boosted their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd.
Check Out Our Latest Stock Analysis on FITB
Insider Buying and Selling
Institutional Investors Weigh In On Fifth Third Bancorp
Hedge funds have recently modified their holdings of the stock. Financial Synergies Wealth Advisors Inc. purchased a new position in Fifth Third Bancorp in the 1st quarter worth about $29,000. American Capital Advisory LLC purchased a new stake in shares of Fifth Third Bancorp in the second quarter worth approximately $34,000. Hexagon Capital Partners LLC increased its stake in Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares during the period. Centerpoint Advisors LLC lifted its position in Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at $52,000. 83.79% of the stock is owned by hedge funds and other institutional investors.
Fifth Third Bancorp Stock Up 2.7 %
NASDAQ:FITB opened at $43.84 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $29.67 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $43.94. The stock has a 50-day simple moving average of $41.61 and a 200 day simple moving average of $38.82.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the firm posted $0.87 earnings per share. Sell-side analysts predict that Fifth Third Bancorp will post 3.31 EPS for the current fiscal year.
Fifth Third Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.37 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.38%. Fifth Third Bancorp’s dividend payout ratio is 47.13%.
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.
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