Fifth Third Bancorp (NASDAQ:FITB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB) have earned a consensus rating of “Hold” from the seventeen brokerages that are presently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $38.15.

Several equities research analysts recently issued reports on the company. Evercore ISI reduced their price objective on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $37.50 to $39.50 in a research note on Wednesday, May 1st. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Jefferies Financial Group raised their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, UBS Group reaffirmed a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th.

Fifth Third Bancorp Stock Down 0.5 %

Shares of Fifth Third Bancorp stock opened at $36.78 on Friday. The stock has a 50-day moving average price of $36.90 and a 200 day moving average price of $35.62. The company has a market cap of $25.16 billion, a P/E ratio of 11.68, a P/E/G ratio of 2.55 and a beta of 1.24. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period in the prior year, the business earned $0.78 EPS. As a group, analysts expect that Fifth Third Bancorp will post 3.29 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Several institutional investors have recently modified their holdings of the company. SVB Wealth LLC grew its holdings in shares of Fifth Third Bancorp by 3.8% during the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 283 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Fifth Third Bancorp by 3.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 300 shares in the last quarter. Lcnb Corp lifted its position in shares of Fifth Third Bancorp by 1.7% during the 4th quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after buying an additional 319 shares during the period. MCF Advisors LLC lifted its position in shares of Fifth Third Bancorp by 0.8% during the 1st quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock worth $1,558,000 after buying an additional 328 shares during the period. Finally, Independence Bank of Kentucky lifted its position in shares of Fifth Third Bancorp by 21.1% during the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after buying an additional 355 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.