Fifth Third Bancorp (NASDAQ:FITB) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nineteen brokerages that are covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $46.75.

Several equities analysts have weighed in on the company. Baird R W cut Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Truist Financial boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Piper Sandler reiterated an "overweight" rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Barclays boosted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Boston Common Asset Management LLC increased its position in Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock worth $13,079,000 after acquiring an additional 34,203 shares during the period. QRG Capital Management Inc. raised its position in shares of Fifth Third Bancorp by 15.1% during the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock valued at $3,078,000 after buying an additional 9,444 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $9,878,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Fifth Third Bancorp by 13.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider's stock valued at $19,776,000 after acquiring an additional 55,081 shares during the period. Finally, Smith Group Asset Management LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $423,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 1.5 %

Shares of Fifth Third Bancorp stock traded up $0.67 during midday trading on Friday, hitting $44.00. The company's stock had a trading volume of 3,676,147 shares, compared to its average volume of 4,722,605. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $29.50 billion, a P/E ratio of 14.01, a PEG ratio of 1.44 and a beta of 1.23. The stock has a 50-day simple moving average of $43.97 and a 200-day simple moving average of $43.47.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.36%. Fifth Third Bancorp's payout ratio is 47.13%.

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.