JPMorgan Chase & Co. Has Lowered Expectations for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB - Free Report) had its target price cut by JPMorgan Chase & Co. from $49.00 to $42.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

Several other analysts also recently commented on the stock. Stephens reaffirmed an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Citigroup cut their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Piper Sandler reiterated an "overweight" rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, Barclays raised their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.12.

Fifth Third Bancorp Stock Performance

FITB traded up $0.08 on Thursday, reaching $34.15. 2,387,817 shares of the stock were exchanged, compared to its average volume of 4,405,449. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The company's 50-day moving average price is $41.28 and its 200 day moving average price is $43.30. The firm has a market capitalization of $22.82 billion, a PE ratio of 10.78, a PEG ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp's payout ratio is 47.13%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares of the company's stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction 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 sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Boston Common Asset Management LLC raised its holdings in Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock valued at $13,079,000 after acquiring an additional 34,203 shares during the last quarter. Boston Partners increased its holdings in shares of Fifth Third Bancorp by 6.2% in the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after purchasing an additional 823,803 shares during the last quarter. AMJ Financial Wealth Management lifted its position in Fifth Third Bancorp by 4.2% during the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock worth $9,843,000 after buying an additional 9,401 shares in the last quarter. Banco Santander S.A. acquired a new position in Fifth Third Bancorp during the fourth quarter worth $357,000. Finally, Lockheed Martin Investment Management Co. acquired a new position in Fifth Third Bancorp during the fourth quarter worth $9,878,000. 83.79% of the stock is owned by hedge funds and other 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.