Analysts Set Fifth Third Bancorp (NASDAQ:FITB) PT at $50.35

Shares of Fifth Third Bancorp (NASDAQ:FITB) have received an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.45.

Several brokerages have commented on FITB. Citigroup boosted their price target on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. DA Davidson lifted their price target on Fifth Third Bancorp from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wolfe Research lifted their price target on Fifth Third Bancorp from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday. Cowen reissued a “buy” rating on shares of Fifth Third Bancorp in a research note on Monday. Finally, Stephens set a $52.00 price target on Fifth Third Bancorp and gave the stock an “overweight” rating in a research note on Tuesday, October 14th.

Insiders Place Their Bets

In related news, Director Evan Bayh purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average price of $41.22 per share, with a total value of $123,660.00. Following the purchase, the director owned 84,942 shares of the company’s stock, valued at $3,501,309.24. This trade represents a 3.66% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its stake in Fifth Third Bancorp by 8.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 104,405 shares of the financial services provider’s stock valued at $4,651,000 after acquiring an additional 7,780 shares in the last quarter. CoreCap Advisors LLC grew its stake in Fifth Third Bancorp by 34.4% during the 3rd quarter. CoreCap Advisors LLC now owns 6,117 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 1,564 shares in the last quarter. North Star Investment Management Corp. grew its stake in Fifth Third Bancorp by 1.7% during the 3rd quarter. North Star Investment Management Corp. now owns 114,792 shares of the financial services provider’s stock valued at $5,114,000 after acquiring an additional 1,941 shares in the last quarter. Eads & Heald Wealth Management grew its stake in Fifth Third Bancorp by 4.4% during the 3rd quarter. Eads & Heald Wealth Management now owns 11,341 shares of the financial services provider’s stock valued at $505,000 after acquiring an additional 480 shares in the last quarter. Finally, Park Place Capital Corp grew its stake in Fifth Third Bancorp by 4.6% during the 3rd quarter. Park Place Capital Corp now owns 27,312 shares of the financial services provider’s stock valued at $1,217,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $41.69 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $44.27 and its two-hundred day moving average price is $40.92. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The stock has a market cap of $27.59 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.95.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, October 17th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the business earned $0.78 earnings per share. Fifth Third Bancorp’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.8%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.76%.

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.