Fifth Third Bancorp (NASDAQ:FITB) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eighteen brokerages that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $46.24.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Truist Financial dropped their price objective on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price on the stock in a research report on Monday, April 7th. Keefe, Bruyette & Woods dropped their price target on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Finally, Stephens reaffirmed an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were 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 $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of institutional investors have recently bought and sold shares of FITB. Boston Common Asset Management LLC increased its position in Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock worth $13,079,000 after acquiring an additional 34,203 shares during the period. Boston Partners increased its stake in 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 acquiring an additional 823,803 shares during the last quarter. AMJ Financial Wealth Management raised its holdings in shares of Fifth Third Bancorp by 4.2% during the 4th 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. bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $357,000. Finally, Lockheed Martin Investment Management Co. acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $9,878,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Stock Down 1.4 %

Shares of Fifth Third Bancorp stock traded down $0.50 during trading hours on Thursday, hitting $35.28. 3,219,995 shares of the company's stock traded hands, compared to its average volume of 4,490,591. The company has a market cap of $23.57 billion, a PE ratio of 11.24, a PEG ratio of 1.42 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a 50 day simple moving average of $38.25 and a 200-day simple moving average of $42.41. 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 released its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter last year, the company earned $0.70 earnings per share. Equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.20%. Fifth Third Bancorp's payout ratio is currently 46.98%.

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.