Fifth Third Bancorp (NASDAQ:FITB) Reaches New 52-Week High - Should You Buy?

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $47.78 and last traded at $47.69, with a volume of 44199 shares trading hands. The stock had previously closed at $47.17.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Argus lifted their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Baird R W cut shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Barclays lifted their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Finally, StockNews.com lowered shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp has an average rating of "Hold" and a consensus target price of $42.28.

Fifth Third Bancorp Stock Up 0.1 %

The company has a market cap of $31.65 billion, a PE ratio of 15.68, a P/E/G ratio of 2.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The business's 50 day moving average is $43.28 and its 200-day moving average is $40.19.

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 for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. As a group, analysts predict that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's payout ratio is currently 49.17%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares of the company's stock, valued at $2,441,720.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares of the company's stock, valued at $2,441,720.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Several institutional investors have recently bought and sold shares of the company. Townsquare Capital LLC acquired a new position in shares of Fifth Third Bancorp during the 3rd quarter worth $804,000. Transamerica Financial Advisors Inc. grew its stake in shares of Fifth Third Bancorp by 7.5% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider's stock worth $143,000 after purchasing an additional 232 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Fifth Third Bancorp by 19.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,173,273 shares of the financial services provider's stock worth $50,263,000 after purchasing an additional 190,228 shares during the period. Brooklyn Investment Group acquired a new position in shares of Fifth Third Bancorp during the 3rd quarter worth $121,000. Finally, FMR LLC grew its stake in shares of Fifth Third Bancorp by 5.7% during the 3rd quarter. FMR LLC now owns 1,692,599 shares of the financial services provider's stock worth $72,511,000 after purchasing an additional 91,574 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

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.