Fifth Third Bancorp (NASDAQ:FITB) Price Target Raised to $43.00 at Jefferies Financial Group

Fifth Third Bancorp (NASDAQ:FITB) had its price target hoisted by Jefferies Financial Group from $42.00 to $43.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Stephens reaffirmed an equal weight rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. DA Davidson increased their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a neutral rating in a research note on Monday, April 22nd. Robert W. Baird reissued a neutral rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Morgan Stanley reaffirmed an equal weight rating and set a $36.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Finally, UBS Group reiterated a neutral rating and issued a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of Hold and a consensus target price of $38.15.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $36.78 on Wednesday. The business has a 50 day simple moving average of $36.91 and a 200 day simple moving average of $35.62. 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 firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period last year, the company earned $0.78 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post 3.28 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the 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 completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds have recently modified their holdings of FITB. Financial Synergies Wealth Advisors Inc. purchased a new position in Fifth Third Bancorp in the first quarter valued at about $29,000. GoalVest Advisory LLC lifted its holdings in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $36,000. Financial Management Professionals Inc. increased its holdings in Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $48,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Company Profile

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.