Shares of Fifth Third Bancorp (NASDAQ:FITB) have received an average recommendation of “Hold” from the twenty-one analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $31.07.
A number of analysts have commented on FITB shares. Morgan Stanley decreased their target price on Fifth Third Bancorp from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 11th. BidaskClub downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th. Stephens upgraded Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 20th. Barclays decreased their target price on Fifth Third Bancorp from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, January 8th.
FITB traded down $0.18 during trading on Friday, reaching $25.22. 8,533,874 shares of the stock were exchanged, compared to its average volume of 7,540,455. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.17 and a beta of 1.33. Fifth Third Bancorp has a 1 year low of $22.12 and a 1 year high of $34.67.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.88 annualized dividend and a dividend yield of 3.49%. Fifth Third Bancorp’s dividend payout ratio is currently 34.65%.
In other news, EVP Frank R. Forrest sold 26,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $26.37, for a total value of $685,620.00. Following 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 can be accessed through this hyperlink. 0.40% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its position in shares of Fifth Third Bancorp by 82.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 487 shares in the last quarter. JOYN Advisors Inc. increased its stake in Fifth Third Bancorp by 38.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 480 shares during the last quarter. Executive Wealth Management LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at $69,000. Oregon Public Employees Retirement Fund increased its stake in Fifth Third Bancorp by 2,225.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,765,315 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 1,689,396 shares during the last quarter. Finally, Lindbrook Capital LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at $75,000. Institutional investors and hedge funds own 83.59% of the company’s stock.
Fifth Third Bancorp Company Profile
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.
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