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

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $46.75.

A number of research analysts have weighed in on the company. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Barclays increased their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial increased their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Citigroup increased their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd.

Fifth Third Bancorp Trading Down 3.3 %

Shares of Fifth Third Bancorp stock opened at $41.63 on Wednesday. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The firm has a market cap of $27.71 billion, a PE ratio of 13.26, a P/E/G ratio of 1.42 and a beta of 1.23. The business’s fifty day moving average is $43.41 and its two-hundred day moving average is $43.82. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.56%. Fifth Third Bancorp’s payout ratio is 47.13%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of large investors have recently bought and sold shares of FITB. Farther Finance Advisors LLC lifted its holdings in Fifth Third Bancorp by 32.0% in the third quarter. Farther Finance Advisors LLC now owns 3,640 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 883 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in Fifth Third Bancorp in the third quarter worth about $273,000. National Pension Service lifted its holdings in Fifth Third Bancorp by 12.6% in the third quarter. National Pension Service now owns 1,156,562 shares of the financial services provider’s stock worth $49,547,000 after acquiring an additional 129,226 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Fifth Third Bancorp by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 257,478 shares of the financial services provider’s stock worth $11,030,000 after acquiring an additional 879 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after acquiring an additional 9,444 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

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.