Fifth Third Bancorp (NASDAQ:FITB) Receives $57.19 Consensus Price Target from Brokerages

Fifth Third Bancorp (NASDAQ:FITB) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $57.1875.

A number of analysts have recently commented on the company. TD Cowen restated a “buy” rating and issued a $60.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd. Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on Fifth Third Bancorp from $53.00 to $54.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. DA Davidson reissued a “buy” rating and issued a $58.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 20th. Finally, Truist Financial set a $57.00 price target on Fifth Third Bancorp in a report on Tuesday, April 21st.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the transaction, the executive vice president directly owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is currently owned by company insiders.

Institutional Trading of Fifth Third Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider’s stock valued at $3,929,647,000 after purchasing an additional 637,207 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Fifth Third Bancorp by 41.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock valued at $1,664,013,000 after acquiring an additional 10,444,799 shares during the period. Capital World Investors lifted its stake in Fifth Third Bancorp by 5.6% during the 4th quarter. Capital World Investors now owns 32,549,669 shares of the financial services provider’s stock valued at $1,523,650,000 after acquiring an additional 1,719,361 shares during the period. State Street Corp boosted its holdings in shares of Fifth Third Bancorp by 0.3% during the 4th quarter. State Street Corp now owns 31,437,600 shares of the financial services provider’s stock valued at $1,484,021,000 after acquiring an additional 101,245 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Fifth Third Bancorp by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,939,023 shares of the financial services provider’s stock worth $1,120,586,000 after acquiring an additional 530,489 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $49.33 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The firm’s 50-day moving average price is $48.03 and its 200-day moving average price is $47.50. The company has a market capitalization of $44.71 billion, a PE ratio of 16.55, a P/E/G ratio of 1.01 and a beta of 0.94. Fifth Third Bancorp has a 1-year low of $36.64 and a 1-year high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.87. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the company posted $0.71 EPS. On average, equities analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio is 53.69%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.