Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) Price Target at $45.32

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $45.32.

A number of analysts recently weighed in on FITB shares. Piper Sandler increased their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Morgan Stanley increased 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 note on Monday, September 30th. Evercore ISI boosted their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an "in-line" rating in a research report on Wednesday, October 2nd. StockNews.com cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, November 15th.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company's stock, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider's stock worth $889,978,000 after purchasing an additional 732,651 shares during the period. Dimensional Fund Advisors LP increased its stake in Fifth Third Bancorp by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider's stock valued at $356,031,000 after purchasing an additional 281,494 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Fifth Third Bancorp by 4.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider's stock worth $371,837,000 after buying an additional 399,827 shares during the period. Franklin Resources Inc. boosted its stake in Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock worth $242,713,000 after buying an additional 409,292 shares during the last quarter. Finally, Smead Capital Management Inc. grew its holdings in Fifth Third Bancorp by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider's stock valued at $95,278,000 after buying an additional 75,024 shares during the period. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Stock Up 1.6 %

NASDAQ:FITB traded up $0.67 during midday trading on Friday, hitting $42.93. 11,112,545 shares of the company were exchanged, compared to its average volume of 4,577,040. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The company has a market capitalization of $28.79 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The company has a fifty day simple moving average of $45.66 and a 200 day simple moving average of $41.83.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). The firm 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 14.58% and a net margin of 16.58%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio is currently 49.17%.

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.