Fifth Third Bancorp (NASDAQ:FITB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from a sell rating to a hold rating in a research note released on Monday.

Several other analysts have also issued reports on FITB. Royal Bank of Canada increased their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Jefferies Financial Group raised their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Argus boosted their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Barclays raised their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Morgan Stanley boosted their target price 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. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.28.

Fifth Third Bancorp Trading Up 0.4 %

Shares of NASDAQ FITB opened at $44.06 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $45.71. The business has a 50-day moving average price of $42.40 and a two-hundred day moving average price of $39.27. The firm has a market capitalization of $30.14 billion, a PE ratio of 13.99, a PEG ratio of 1.94 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share. As a group, analysts predict that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.37 per share. The ex-dividend date was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in FITB. Mather Group LLC. acquired a new position in shares of Fifth Third Bancorp in the first quarter valued at $56,000. Gateway Investment Advisers LLC increased its holdings in Fifth Third Bancorp by 2.5% in the 1st quarter. Gateway Investment Advisers LLC now owns 135,669 shares of the financial services provider’s stock valued at $5,048,000 after buying an additional 3,271 shares during the period. Mcdonald Partners LLC bought a new position in shares of Fifth Third Bancorp during the 1st quarter worth about $213,000. St. Johns Investment Management Company LLC lifted its holdings in shares of Fifth Third Bancorp by 8.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 22,132 shares of the financial services provider’s stock worth $824,000 after acquiring an additional 1,814 shares during the period. Finally, Signet Financial Management LLC boosted its position in shares of Fifth Third Bancorp by 2.8% during the 1st quarter. Signet Financial Management LLC now owns 74,054 shares of the financial services provider’s stock valued at $2,756,000 after acquiring an additional 2,025 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

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.