Fifth Third Bancorp (NASDAQ:FITB) PT Raised to $43.00 at Jefferies Financial Group

Fifth Third Bancorp (NASDAQ:FITB) had its price target lifted by Jefferies Financial Group from $42.00 to $43.00 in a report published on Wednesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Several other research firms have also weighed in on FITB. Evercore ISI reduced their price objective on Fifth Third Bancorp from $42.00 to $41.00 and set an in-line rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. raised Fifth Third Bancorp from a neutral rating to an overweight rating and lifted their price target for the company from $37.50 to $39.50 in a research note on Wednesday, May 1st. Wolfe Research raised Fifth Third Bancorp from a peer perform rating to an outperform rating and set a $43.00 price target on the stock in a research note on Friday, May 31st. Stephens reissued 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. Finally, Robert W. Baird reissued a neutral rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $38.15.

Fifth Third Bancorp Stock Down 2.1 %

Shares of NASDAQ FITB opened at $36.01 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. 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 $24.63 billion, a P/E ratio of 11.43, a PEG ratio of 2.53 and a beta of 1.24. The stock’s fifty day moving average is $36.88 and its 200 day moving average is $35.64.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period last year, the firm posted $0.78 earnings per share. Sell-side analysts forecast that Fifth Third Bancorp will post 3.29 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 3.89%. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares in the company, valued at $1,696,981.48. The sale was disclosed in a filing with the SEC, which is available at 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 completion of the sale, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 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 disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. SVB Wealth LLC boosted its position in shares of Fifth Third Bancorp by 3.8% during the first quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after buying an additional 283 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock valued at $294,000 after buying an additional 300 shares during the last quarter. Lcnb Corp boosted its position in shares of Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock valued at $658,000 after buying an additional 319 shares during the last quarter. MCF Advisors LLC boosted its position in shares of Fifth Third Bancorp by 0.8% during the first quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock valued at $1,558,000 after buying an additional 328 shares during the last quarter. Finally, Independence Bank of Kentucky boosted its position in shares of Fifth Third Bancorp by 21.1% during the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock valued at $70,000 after buying an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.