Fifth Third Bancorp (NASDAQ:FITB) Given Average Rating of “Moderate Buy” by Brokerages

Fifth Third Bancorp (NASDAQ:FITB) has received a consensus recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $56.9875.

A number of equities research analysts recently issued reports on the company. UBS Group reaffirmed a “buy” rating and issued a $59.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, February 4th. JPMorgan Chase & Co. assumed coverage on Fifth Third Bancorp in a research report on Monday. They set an “overweight” rating and a $50.50 price target for the company. Evercore boosted their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Wall Street Zen downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Stephens increased their price objective on Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th.

Institutional Trading of Fifth Third Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its position in shares of Fifth Third Bancorp by 4.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 187 shares during the period. Equitable Holdings Inc. lifted its position in Fifth Third Bancorp by 4.1% during the fourth quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock worth $232,000 after buying an additional 195 shares during the period. Koshinski Asset Management Inc. boosted its stake in Fifth Third Bancorp by 3.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after buying an additional 206 shares during the last quarter. Keybank National Association OH boosted its stake in Fifth Third Bancorp by 0.3% in the 4th quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after buying an additional 214 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Fifth Third Bancorp by 1.9% in the 4th quarter. CreativeOne Wealth LLC now owns 11,652 shares of the financial services provider’s stock valued at $545,000 after buying an additional 216 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 0.5%

Shares of NASDAQ FITB opened at $43.66 on Friday. The firm’s 50-day moving average is $50.02 and its two-hundred day moving average is $46.54. The company has a market capitalization of $39.54 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $55.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Fifth Third Bancorp’s payout ratio is currently 45.20%.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.