Fifth Third Bancorp (NASDAQ:FITB) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have earned an average rating of "Moderate Buy" from the eighteen analysts that are currently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $43.62.

A number of equities research analysts have recently weighed in on FITB shares. Citigroup lifted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a report on Friday. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Baird R W lowered shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. StockNews.com downgraded shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Finally, Barclays raised their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB traded up $0.54 during mid-day trading on Monday, reaching $48.44. 6,145,147 shares of the company were exchanged, compared to its average volume of 4,586,123. Fifth Third Bancorp has a twelve month low of $26.89 and a twelve month high of $49.07. The stock has a market capitalization of $32.48 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.29 and a beta of 1.21. The company's 50-day simple moving average is $44.17 and its 200-day simple moving average is $40.73. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (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 the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. As a group, research analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.06%. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's dividend payout ratio is currently 49.17%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Fifth Third Bancorp

Several institutional investors have recently added to or reduced their stakes in FITB. Venturi Wealth Management LLC grew its holdings in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after acquiring an additional 316 shares during the period. American Capital Advisory LLC acquired a new stake in Fifth Third Bancorp during the second quarter worth approximately $34,000. Legacy Investment Solutions LLC acquired a new position in Fifth Third Bancorp in the third quarter valued at approximately $36,000. Hexagon Capital Partners LLC boosted its holdings in shares of Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock worth $37,000 after buying an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $39,000. 83.79% of the stock is currently owned by institutional investors.

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.