Fifth Third Bancorp (FITB) – Investment Analysts’ Weekly Ratings Updates

Fifth Third Bancorp (NASDAQ: FITB) has recently received a number of price target changes and ratings updates:

• 10/2/2024 – Fifth Third Bancorp had its price target raised by analysts at Evercore ISI from $46.00 to $47.00. They now have an “in-line” rating on the stock.
• 9/30/2024 – Fifth Third Bancorp had its price target raised by analysts at Morgan Stanley from $47.00 to $51.00. They now have an “equal weight” rating on the stock.
• 9/27/2024 – Fifth Third Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/18/2024 – Fifth Third Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 8/13/2024 – Fifth Third Bancorp was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 8/5/2024 – Fifth Third Bancorp had its price target raised by analysts at Morgan Stanley from $40.00 to $47.00. They now have an “equal weight” rating on the stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded down $0.54 on Thursday, reaching $41.44. The stock had a trading volume of 154,315 shares, compared to its average volume of 4,610,226. The stock has a market cap of $28.35 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $43.85. The business’s 50-day moving average price is $41.48 and its 200 day moving average price is $38.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company earned $0.87 EPS. As a group, equities analysts expect that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.57%. Fifth Third Bancorp’s dividend payout ratio is currently 46.98%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the transaction, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the completion of the sale, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,500 shares of company stock valued at $2,269,920. 0.50% of the stock is owned by company insiders.

Institutional Trading of Fifth Third Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Synergies Wealth Advisors Inc. purchased a new position in Fifth Third Bancorp in the 1st quarter valued at about $29,000. American Capital Advisory LLC purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $34,000. Centerpoint Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 750 shares in the last quarter. Family Firm Inc. purchased a new stake in Fifth Third Bancorp during the 2nd quarter worth $52,000. Finally, Mather Group LLC. acquired a new stake in Fifth Third Bancorp in the 1st quarter valued at $56,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.