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

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

Several analysts recently weighed in on FITB shares. JPMorgan Chase & Co. cut their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Citigroup cut their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Keefe, Bruyette & Woods cut their price objective on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. TD Cowen started coverage on shares of Fifth Third Bancorp in a research report on Thursday, May 15th. They issued a "buy" rating and a $52.00 price objective on the stock. Finally, Truist Financial dropped their price target on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FITB. HWG Holdings LP acquired a new position in Fifth Third Bancorp in the first quarter worth approximately $27,000. Banque Transatlantique SA purchased a new position in Fifth Third Bancorp during the 1st quarter worth approximately $27,000. Quarry LP purchased a new position in Fifth Third Bancorp during the 4th quarter worth approximately $29,000. Larson Financial Group LLC grew its position in Fifth Third Bancorp by 91.3% during the 1st quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider's stock worth $29,000 after purchasing an additional 357 shares in the last quarter. Finally, REAP Financial Group LLC grew its position in Fifth Third Bancorp by 161.8% during the 4th quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock worth $33,000 after purchasing an additional 487 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Trading Down 0.8%

Fifth Third Bancorp stock opened at $43.07 on Tuesday. The firm's 50-day moving average is $39.02 and its 200-day moving average is $40.03. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The company has a market cap of $28.75 billion, a P/E ratio of 13.67, a PEG ratio of 1.50 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a net margin of 17.65% and a return on equity of 13.64%. During the same period last year, the firm posted $0.70 EPS. On average, equities analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.37 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.48 annualized dividend and a yield of 3.44%. Fifth Third Bancorp's dividend payout ratio (DPR) is 46.98%.

Fifth Third Bancorp declared that its board has initiated a stock buyback program on Monday, June 16th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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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