Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) Price Target at $46.75

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have earned a consensus rating of "Moderate Buy" from the nineteen research firms that are covering the stock, Marketbeat 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 target among brokerages that have issued a report on the stock in the last year is $47.31.

FITB has been the topic of a number of analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday. Truist Financial boosted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Barclays increased their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, November 15th.

Insiders Place Their Bets

In related news, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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Hedge Funds Weigh In On Fifth Third Bancorp

A number of institutional investors have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $49,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Fifth Third Bancorp in the fourth quarter worth about $15,150,000. REAP Financial Group LLC grew its holdings in Fifth Third Bancorp by 161.8% during the 4th quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock worth $33,000 after acquiring an additional 487 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in Fifth Third Bancorp by 36.0% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 11,794 shares of the financial services provider's stock valued at $499,000 after purchasing an additional 3,120 shares during the period. Finally, LifeWealth Investments LLC purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $297,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded up $0.20 during trading hours on Wednesday, hitting $40.06. 5,773,180 shares of the stock traded hands, compared to its average volume of 4,718,686. The company has a market cap of $26.66 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07. The stock has a 50 day moving average price of $43.23 and a 200 day moving average price of $43.77. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp's payout ratio is 47.13%.

About Fifth Third Bancorp

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.