Fifth Third Bancorp (NASDAQ:FITB) Share Price Passes Above 200-Day Moving Average - What's Next?

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $42.31 and traded as high as $42.78. Fifth Third Bancorp shares last traded at $42.28, with a volume of 3,028,372 shares trading hands.

Analysts Set New Price Targets

FITB has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Morgan Stanley boosted their price objective 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, Piper Sandler boosted their price target on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.32.

Fifth Third Bancorp Stock Performance

The company has a market capitalization of $28.35 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company's 50 day moving average is $45.39 and its 200-day moving average is $42.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion during 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% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Equities analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.50%. Fifth Third Bancorp's dividend payout ratio is presently 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 55,913 shares of the company's stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.50% of the company's stock.

Institutional Trading of Fifth Third Bancorp

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Fifth Third Bancorp by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider's stock valued at $35,194,000 after purchasing an additional 14,137 shares during the period. 1ST Source Bank bought a new stake in Fifth Third Bancorp during the third quarter valued at approximately $211,000. Franklin Resources Inc. increased its holdings in Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock valued at $242,713,000 after buying an additional 409,292 shares during the last quarter. Tidal Investments LLC raised its position in Fifth Third Bancorp by 10.0% in the third quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider's stock worth $1,069,000 after acquiring an additional 2,265 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Fifth Third Bancorp during the 3rd quarter worth $191,000. Hedge funds and other institutional investors 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.