Fifth Third Bancorp (NASDAQ:FITB) Given New $60.00 Price Target at Jefferies Financial Group

Fifth Third Bancorp (NASDAQ:FITB) had its target price boosted by Jefferies Financial Group from $55.00 to $60.00 in a report issued on Wednesday morning,MarketScreener reports. They currently have a buy rating on the financial services provider’s stock.

Several other research analysts have also issued reports on FITB. TD Cowen reiterated a “buy” rating and issued a $60.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, February 3rd. Barclays upped their target price on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Citigroup upped their target price on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Argus upped their target price on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $56.41.

Fifth Third Bancorp Stock Up 3.2%

Shares of NASDAQ:FITB opened at $49.34 on Wednesday. Fifth Third Bancorp has a 52-week low of $32.27 and a 52-week high of $55.44. The firm has a fifty day moving average of $49.03 and a 200 day moving average of $46.61. The firm has a market capitalization of $44.68 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.93 and a beta of 0.95. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.2%. Fifth Third Bancorp’s payout ratio is currently 45.20%.

Institutional Trading of Fifth Third Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. lifted its stake in Fifth Third Bancorp by 4.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 187 shares during the last quarter. Equitable Holdings Inc. lifted its stake in Fifth Third Bancorp by 4.1% in the fourth quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 195 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in Fifth Third Bancorp by 3.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 206 shares during the last quarter. Keybank National Association OH lifted its stake in Fifth Third Bancorp by 0.3% in the fourth quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after purchasing an additional 214 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in Fifth Third Bancorp by 1.9% in the fourth quarter. CreativeOne Wealth LLC now owns 11,652 shares of the financial services provider’s stock worth $545,000 after purchasing an additional 216 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

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.