Fifth Third Bancorp (NASDAQ:FITB) Price Target Raised to $57.00 at Evercore ISI

by · The Markets Daily

Fifth Third Bancorp (NASDAQ:FITB – Free Report) had its target price boosted by Evercore ISI from $52.00 to $57.00 in a research report report published on Thursday morning,MarketScreener reports.

A number of other brokerages have also weighed in on FITB. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Barclays lifted their target price on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. UBS Group reissued a “buy” rating and issued a $59.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Finally, Citigroup lifted their price target on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $56.58.

Read Our Latest Research Report on Fifth Third Bancorp

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $55.08 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. The company has a market cap of $36.41 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company has a 50 day moving average of $48.74 and a 200-day moving average of $45.20. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $55.36.

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

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is 45.20%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction 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 $6,265,763.50. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by insiders.

Institutional Trading of Fifth Third Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of FITB. EverSource Wealth Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 48.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,810 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 1,237 shares during the last quarter. Ignite Planners LLC increased its holdings in Fifth Third Bancorp by 5.3% in the 4th quarter. Ignite Planners LLC now owns 4,815 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 244 shares during the last quarter. Global Retirement Partners LLC raised its position in Fifth Third Bancorp by 37.8% in the 4th quarter. Global Retirement Partners LLC now owns 12,064 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 3,311 shares in the last quarter. Great Diamond Partners LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at $204,000. Finally, Mach 1 Financial Group LLC acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth about $218,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

(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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