Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) PT at $46.24

Fifth Third Bancorp (NASDAQ:FITB) has received a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $46.24.

Several analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods cut their target price on Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st. Robert W. Baird upgraded Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 target price on the stock in a research note on Monday, April 7th. Truist Financial cut their price target on Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, DA Davidson cut their price target on Fifth Third Bancorp from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, April 21st.

Fifth Third Bancorp Price Performance

FITB opened at $35.74 on Thursday. The stock has a 50-day moving average price of $38.07 and a 200-day moving average price of $42.35. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $23.88 billion, a P/E ratio of 11.38, a PEG ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same quarter in the previous year, the company posted $0.70 EPS. Equities analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.14%. Fifth Third Bancorp’s dividend payout ratio is presently 46.98%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

A number of large investors have recently modified their holdings of the stock. Retirement Wealth Solutions LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $25,000. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp during the fourth quarter worth $28,000. Quarry LP acquired a new position in Fifth Third Bancorp during the fourth quarter worth $29,000. HWG Holdings LP acquired a new stake in Fifth Third Bancorp in the first quarter valued at $27,000. Finally, BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.