Fifth Third Bancorp (NASDAQ:FITB) Receives $56.56 Consensus Price Target from Analysts

by · The Markets Daily

Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $56.5625.

A number of equities research analysts have commented on FITB shares. Stephens raised their price target on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Janney Montgomery Scott boosted their target price on Fifth Third Bancorp from $51.00 to $56.25 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Weiss Ratings downgraded Fifth Third Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 11th. Finally, Piper Sandler increased their price target on Fifth Third Bancorp from $50.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st.

View Our Latest Research Report on FITB

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

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

Fifth Third Bancorp Trading Up 1.4%

Shares of FITB stock opened at $53.62 on Wednesday. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $55.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50 day simple moving average of $50.29 and a two-hundred day simple moving average of $45.98. The company has a market cap of $35.45 billion, a P/E ratio of 15.15, a PEG ratio of 1.07 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The firm had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%. Research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 45.20%.

About Fifth Third Bancorp

(Get Free Report)

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.

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