Fifth Third Bancorp (NASDAQ:FITB) Given “Market Perform” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $40.00 price objective on the financial services provider’s stock, up from their previous price objective of $39.00.

FITB has been the subject of a number of other reports. Evercore ISI boosted their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an in-line rating in a report on Thursday, March 28th. Wells Fargo & Company increased their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an overweight rating in a report on Thursday, March 28th. Barclays lifted their target price on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an overweight rating in a research report on Tuesday, January 2nd. UBS Group reissued a neutral rating and issued a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Finally, Royal Bank of Canada boosted their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an outperform rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $36.31.

Fifth Third Bancorp Trading Down 1.1 %

NASDAQ FITB opened at $36.82 on Monday. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day simple moving average of $35.48 and a 200 day simple moving average of $32.13. The stock has a market capitalization of $25.08 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.40 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the prior year, the business earned $0.78 earnings per share. Research analysts expect that Fifth Third Bancorp will post 3.2 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is presently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,357 shares of company stock worth $1,693,888. Insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in Fifth Third Bancorp by 8.7% during the third quarter. CWM LLC now owns 27,550 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 2,195 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Fifth Third Bancorp by 322.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,730 shares of the financial services provider’s stock valued at $44,000 after buying an additional 1,320 shares during the period. IFP Advisors Inc raised its holdings in shares of Fifth Third Bancorp by 6.2% in the third quarter. IFP Advisors Inc now owns 26,620 shares of the financial services provider’s stock worth $674,000 after buying an additional 1,560 shares during the period. Global Retirement Partners LLC boosted its holdings in Fifth Third Bancorp by 46.3% during the 3rd quarter. Global Retirement Partners LLC now owns 3,147 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 996 shares during the period. Finally, SG Americas Securities LLC increased its stake in Fifth Third Bancorp by 3.7% in the third quarter. SG Americas Securities LLC now owns 40,267 shares of the financial services provider’s stock worth $1,020,000 after purchasing an additional 1,442 shares during the period. 83.79% of the stock is currently owned by 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.