Fifth Third Bancorp (NASDAQ:FITB) Receives $41.78 Average Price Target from Brokerages

Fifth Third Bancorp (NASDAQ:FITB) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $41.78.

A number of research firms have recently issued reports on FITB. Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Argus lifted their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group lifted their price objective 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. Finally, Evercore ISI lifted their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd.

Fifth Third Bancorp Trading Up 2.7 %

Shares of FITB opened at $43.84 on Friday. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $43.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $29.67 billion, a P/E ratio of 13.96, a PEG ratio of 1.94 and a beta of 1.22. The firm’s 50-day moving average is $41.61 and its two-hundred day moving average is $38.82.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) 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 company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. On average, research analysts predict that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.38%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Activity

In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now owns 20,961 shares in the company, valued at approximately $863,802.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,500 shares of company stock valued at $2,269,920 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in Fifth Third Bancorp during the 1st quarter worth $29,000. American Capital Advisory LLC acquired a new position in shares of Fifth Third Bancorp in the second quarter worth about $34,000. Hexagon Capital Partners LLC boosted its holdings in Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares during the last quarter. Centerpoint Advisors LLC grew its stake in Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 750 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at approximately $52,000. 83.79% of the stock is owned by institutional investors and hedge funds.

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.