Fifth Third Bancorp (NASDAQ:FITB) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Wall Street sentiment remains positive: Fifth Third Bancorp has a consensus rating of “Moderate Buy” from 21 brokerages, with 17 buy ratings and 4 hold ratings. The average 12-month price target is about $57.19.
• Latest earnings beat expectations: The bank reported $0.83 EPS for the quarter, far above the consensus estimate of a loss, though revenue of $2.83 billion came in slightly below forecasts. Analysts expect full-year earnings of 4.1 EPS.
• Dividend and insider activity stand out: Fifth Third recently paid a quarterly dividend of $0.40 per share, equal to an annualized yield of 3.2%. The article also notes recent insider share sales by two executives.

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-one brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $57.1875.

Several analysts recently issued reports on the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $57.00 target price on shares of Fifth Third Bancorp in a report on Monday, May 4th. Wall Street Zen upgraded Fifth Third Bancorp from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. Zacks Research lowered Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Barclays upped their price objective on Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. Finally, TD Cowen reissued a "buy" rating and issued a $60.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd.

Fifth Third Bancorp Stock Down 0.0%

Fifth Third Bancorp stock opened at $49.88 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 1-year low of $37.28 and a 1-year high of $55.44. The company has a fifty day simple moving average of $48.41 and a 200 day simple moving average of $48.19. The company has a market cap of $45.21 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.87. The firm had revenue of $2.83 billion for the quarter, compared to analysts' expectations of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period in the previous year, the firm posted $0.71 EPS. Research analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.40 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.2%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 53.69%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares of the company's stock, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin J. Khanna sold 6,000 shares of the business's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $50.77, for a total transaction of $304,620.00. Following the transaction, the executive vice president owned 76,299 shares in the company, valued at $3,873,700.23. This represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.51% of the company's stock.

Institutional Trading of Fifth Third Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Center for Financial Planning Inc. acquired a new position in shares of Fifth Third Bancorp during the 1st quarter worth approximately $25,000. SouthState Bank Corp lifted its holdings in Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Westside Investment Management Inc. boosted its position in Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider's stock worth $26,000 after purchasing an additional 292 shares during the period. Harbor Investment Advisory LLC boosted its position in Fifth Third Bancorp by 501.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider's stock worth $29,000 after purchasing an additional 517 shares during the period. Finally, Monetary Solutions Ltd acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $29,000. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Company Profile

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.

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