Robert W. Baird Issues Positive Forecast for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB) had its price target raised by Robert W. Baird from $50.00 to $55.00 in a report published on Wednesday,MarketScreener reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Fifth Third Bancorp in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their target price on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Wolfe Research upped their price objective on Fifth Third Bancorp from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Cowen reiterated a “buy” rating on shares of Fifth Third Bancorp in a research report on Monday, October 20th. Finally, Janney Montgomery Scott upped their price objective on Fifth Third Bancorp from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.60.

Fifth Third Bancorp Stock Up 0.2%

Shares of NASDAQ FITB opened at $47.87 on Wednesday. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $48.71. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The firm has a market cap of $31.64 billion, a PE ratio of 14.31, a P/E/G ratio of 0.97 and a beta of 0.99. The company’s fifty day simple moving average is $43.31 and its 200 day simple moving average is $43.00.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The business had revenue of $3.82 billion for the quarter. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.76%.

Insider Buying and Selling 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 that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Bayh bought 3,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were acquired at an average price of $41.22 per share, with a total value of $123,660.00. Following the transaction, the director directly owned 84,942 shares in the company, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their position. The SEC filing for this purchase provides additional information. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Fifth Third Bancorp by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock valued at $3,448,743,000 after acquiring an additional 1,301,624 shares during the period. Capital World Investors increased its position in shares of Fifth Third Bancorp by 6.2% in the 3rd quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider’s stock valued at $1,373,490,000 after buying an additional 1,803,861 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fifth Third Bancorp by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 23,306,918 shares of the financial services provider’s stock worth $958,614,000 after buying an additional 398,517 shares during the period. Invesco Ltd. lifted its holdings in Fifth Third Bancorp by 2.6% during the third quarter. Invesco Ltd. now owns 21,224,600 shares of the financial services provider’s stock worth $945,556,000 after acquiring an additional 546,914 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Fifth Third Bancorp by 3.6% in the second quarter. Geode Capital Management LLC now owns 18,008,755 shares of the financial services provider’s stock valued at $737,728,000 after acquiring an additional 619,956 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

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.