Fifth Third Bancorp (NASDAQ:FITB) has received an average rating of “Hold” from the twenty-three analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $31.13.
A number of analysts recently weighed in on FITB shares. Barclays decreased their target price on shares of Fifth Third Bancorp from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 2nd. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday, January 8th. Citigroup raised shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $37.00 to $29.00 in a report on Wednesday, January 9th. BidaskClub raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Vining Sparks reaffirmed a “buy” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, January 22nd.
In other news, EVP Frank R. Forrest sold 26,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $26.37, for a total value of $685,620.00. Following the transaction, the executive vice president now owns 62,974 shares of the company’s stock, valued at approximately $1,660,624.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Teresa J. Tanner sold 55,600 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $27.47, for a total transaction of $1,527,332.00. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in FITB. SRS Capital Advisors Inc. boosted its stake in shares of Fifth Third Bancorp by 82.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 487 shares in the last quarter. Guidant Wealth Advisors purchased a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at $29,000. JOYN Advisors Inc. boosted its stake in shares of Fifth Third Bancorp by 38.6% in the 4th quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 480 shares in the last quarter. First Command Bank boosted its stake in shares of Fifth Third Bancorp by 2,825.0% in the 1st quarter. First Command Bank now owns 1,638 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Executive Wealth Management LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at $69,000. 83.71% of the stock is owned by institutional investors.
Fifth Third Bancorp stock traded down $0.21 during midday trading on Tuesday, reaching $27.50. 7,824,873 shares of the stock were exchanged, compared to its average volume of 8,966,174. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $17.84 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.27 and a beta of 1.32. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $34.67.
Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. During the same quarter in the prior year, the firm posted $0.48 EPS. Research analysts forecast that Fifth Third Bancorp will post 2.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Thursday, March 28th. Fifth Third Bancorp’s payout ratio is 34.65%.
About Fifth Third Bancorp
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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