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

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $46.56.

FITB has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Barclays reduced their price target on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective for the company in a research report on Monday, April 7th. Finally, Baird R W upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th.

Fifth Third Bancorp Trading Up 0.4%

FITB opened at $39.64 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The stock has a market capitalization of $26.46 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.42 and a beta of 0.89. The company has a 50-day simple moving average of $36.94 and a 200 day simple moving average of $41.72.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter in the prior year, the firm posted $0.70 EPS. Analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.73%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's payout ratio is presently 46.98%.

Insider Activity

In related news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares of the company's stock, valued at $5,698,778.80. This trade represents a 14.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James C. Leonard sold 17,200 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Institutional Trading of Fifth Third Bancorp

A number of large investors have recently bought and sold shares of FITB. Woodline Partners LP lifted its stake in shares of Fifth Third Bancorp by 40.5% in the 1st quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider's stock valued at $2,218,000 after purchasing an additional 16,323 shares during the period. Empowered Funds LLC lifted its stake in Fifth Third Bancorp by 7.1% in the first quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider's stock valued at $543,000 after buying an additional 916 shares during the period. MBB Public Markets I LLC acquired a new position in Fifth Third Bancorp in the first quarter valued at approximately $298,000. Ascent Group LLC boosted its holdings in shares of Fifth Third Bancorp by 2.0% during the 1st quarter. Ascent Group LLC now owns 63,653 shares of the financial services provider's stock worth $2,495,000 after buying an additional 1,271 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan grew its position in shares of Fifth Third Bancorp by 24.6% during the 1st quarter. Canada Post Corp Registered Pension Plan now owns 18,550 shares of the financial services provider's stock worth $727,000 after buying an additional 3,658 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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