Fifth Third Bancorp (NASDAQ:FITB) Price Target Increased to $51.00 by Analysts at Barclays

Fifth Third Bancorp (NASDAQ:FITB) had its target price increased by Barclays from $43.00 to $51.00 in a research note released on Monday, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other research firms also recently commented on FITB. Evercore ISI raised their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Morgan Stanley raised their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Argus raised their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Finally, Bank of America lifted their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $42.28.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $44.06 on Monday. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $45.71. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $30.14 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.94 and a beta of 1.22. The stock has a 50 day moving average price of $42.40 and a 200 day moving average price of $39.27.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.36%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s payout ratio is 46.98%.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at $4,805,724. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by company insiders.

Institutional Trading of Fifth Third Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth about $34,000. Hexagon Capital Partners LLC lifted its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 312 shares during the period. Centerpoint Advisors LLC lifted its position in Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 750 shares during the period. Family Firm Inc. acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth about $52,000. Finally, Mather Group LLC. acquired a new stake in Fifth Third Bancorp during the 1st quarter worth about $56,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Fifth Third Bancorp

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.