Fifth Third Bancorp (NASDAQ:FITB) Given New $42.00 Price Target at Keefe, Bruyette & Woods

Fifth Third Bancorp (NASDAQ:FITB - Free Report) had its price objective lowered by Keefe, Bruyette & Woods from $47.00 to $42.00 in a report published on Monday,Benzinga reports. The firm currently has a market perform rating on the financial services provider's stock.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Truist Financial raised their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their price objective on Fifth Third Bancorp from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Morgan Stanley dropped their price target on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.24.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock traded down $0.50 on Monday, reaching $35.28. The company's stock had a trading volume of 3,219,995 shares, compared to its average volume of 4,475,947. The business's fifty day moving average price is $38.43 and its 200 day moving average price is $42.45. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $23.57 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the company earned $0.70 EPS. Equities analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.20%. Fifth Third Bancorp's dividend payout ratio is currently 46.98%.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business'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 value of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares of the company's stock, valued at $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FITB. Charles Schwab Investment Management Inc. lifted its position in Fifth Third Bancorp by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock worth $912,692,000 after buying an additional 812,385 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fifth Third Bancorp by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider's stock worth $715,219,000 after acquiring an additional 285,910 shares in the last quarter. Boston Partners raised its holdings in Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after acquiring an additional 823,803 shares in the last quarter. First Trust Advisors LP boosted its position in Fifth Third Bancorp by 12.1% during the fourth quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock valued at $402,991,000 after purchasing an additional 1,027,044 shares during the last quarter. Finally, Norges Bank bought a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $371,836,000. Institutional investors and hedge funds 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.