Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) PT at $55.66

Fifth Third Bancorp (NASDAQ:FITB) has earned a consensus recommendation of “Moderate Buy” from the twenty research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $56.2125.

Several research firms recently issued reports on FITB. Morgan Stanley set a $60.00 price target on Fifth Third Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their target price on Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. Stephens upped their price target on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, DA Davidson boosted their price objective on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company a “buy” rating in a report on Monday.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the transaction, the executive vice president owned 129,191 shares in the company, valued at $6,265,763.50. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently bought and sold shares of the company. Merit Financial Group LLC increased its holdings in Fifth Third Bancorp by 19.6% in the 4th quarter. Merit Financial Group LLC now owns 28,502 shares of the financial services provider’s stock valued at $1,334,000 after buying an additional 4,676 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Fifth Third Bancorp by 64.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,504 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 587 shares during the last quarter. AE Wealth Management LLC raised its position in Fifth Third Bancorp by 1.4% during the fourth quarter. AE Wealth Management LLC now owns 352,953 shares of the financial services provider’s stock valued at $16,522,000 after purchasing an additional 4,952 shares in the last quarter. Whittier Trust Co. lifted its stake in Fifth Third Bancorp by 38.5% during the fourth quarter. Whittier Trust Co. now owns 13,711 shares of the financial services provider’s stock worth $683,000 after purchasing an additional 3,814 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in Fifth Third Bancorp by 11.4% during the fourth quarter. Private Trust Co. NA now owns 3,210 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 328 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Down 0.5%

Shares of FITB opened at $50.49 on Friday. The firm has a market cap of $33.38 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $53.33. The firm’s 50-day simple moving average is $47.02 and its 200 day simple moving average is $44.66.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%.The company had revenue of $3.82 billion during the quarter. On average, analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is 45.20%.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.