Fifth Third Bancorp (NASDAQ:FITB) Receives $47.53 Consensus Price Target from Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $47.53.

FITB has been the subject of a number of recent analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Truist Financial decreased their price objective on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Baird R W upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. TD Cowen assumed coverage on shares of Fifth Third Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $52.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd.

Fifth Third Bancorp Trading Down 2.6%

Shares of Fifth Third Bancorp stock traded down $1.00 on Friday, hitting $37.98. 3,076,942 shares of the company's stock traded hands, compared to its average volume of 4,486,189. The firm's 50-day moving average price is $36.94 and its two-hundred day moving average price is $40.75. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $25.35 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. On average, research analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Monday, June 30th. Fifth Third Bancorp's dividend payout ratio is presently 46.98%.

Institutional Investors Weigh In On Fifth Third Bancorp

Several institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,908,401 shares of the financial services provider's stock valued at $898,009,000 after purchasing an additional 1,321,554 shares during the last quarter. Invesco Ltd. grew its position in Fifth Third Bancorp by 5.1% in the first quarter. Invesco Ltd. now owns 17,736,353 shares of the financial services provider's stock valued at $695,265,000 after purchasing an additional 862,374 shares in the last quarter. Geode Capital Management LLC increased its stake in Fifth Third Bancorp by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider's stock valued at $715,219,000 after buying an additional 285,910 shares during the last quarter. Boston Partners lifted its position in Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after buying an additional 823,803 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Fifth Third Bancorp by 12.1% during the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock worth $402,991,000 after buying an additional 1,027,044 shares during the last quarter. Institutional investors 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.