Fifth Third Bancorp (FITB) Given Consensus Rating of “Hold” by Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB) have received an average recommendation of “Hold” from the twenty-three ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $31.13.

A number of analysts have weighed in on FITB shares. Raymond James set a $30.00 price objective on shares of Fifth Third Bancorp and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Vining Sparks restated a “buy” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, January 22nd. Citigroup upgraded shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $37.00 to $29.00 in a research note on Wednesday, January 9th. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, January 8th. Finally, Sandler O’Neill upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd.

In other news, EVP Frank R. Forrest sold 26,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $26.37, for a total value of $685,620.00. Following the completion of the sale, the executive vice president now directly owns 62,974 shares in the company, valued at $1,660,624.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Teresa J. Tanner sold 55,600 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $27.47, for a total transaction of $1,527,332.00. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Sanders Capital LLC grew its stake in shares of Fifth Third Bancorp by 59.6% in the fourth quarter. Sanders Capital LLC now owns 17,818,885 shares of the financial services provider’s stock worth $468,179,000 after acquiring an additional 6,653,168 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Fifth Third Bancorp by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,601,640 shares of the financial services provider’s stock worth $225,927,000 after acquiring an additional 988,392 shares during the period. Geode Capital Management LLC grew its stake in shares of Fifth Third Bancorp by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 9,475,947 shares of the financial services provider’s stock worth $222,615,000 after acquiring an additional 574,887 shares during the period. Northern Trust Corp grew its stake in shares of Fifth Third Bancorp by 10.4% in the fourth quarter. Northern Trust Corp now owns 9,220,340 shares of the financial services provider’s stock worth $216,954,000 after acquiring an additional 868,917 shares during the period. Finally, Norges Bank bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth approximately $161,089,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Shares of Fifth Third Bancorp stock traded down $0.21 during trading on Tuesday, hitting $27.50. The company’s stock had a trading volume of 7,824,873 shares, compared to its average volume of 8,966,174. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.27 and a beta of 1.32. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $34.67.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. During the same period last year, the business earned $0.48 EPS. On average, equities analysts anticipate that Fifth Third Bancorp will post 2.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.88 dividend on an annualized basis and a yield of 3.20%. Fifth Third Bancorp’s dividend payout ratio is currently 34.65%.

About Fifth Third Bancorp

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

Featured Article: What are Bollinger Bands?

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.