Fifth Third Bancorp (NASDAQ:FITB) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• "Moderate Buy" consensus from 21 analysts—17 buy, 1 strong buy and 3 hold—with an average 1‑year price target of $57.19.
• Fifth Third reported quarterly EPS of $0.83, beating the consensus estimate of -$0.04 by $0.87, while revenue was $2.86B versus estimates of $2.91B; analysts project FY EPS of 4.1 and the stock trades at a PE of ~16.9.
• The bank declared a quarterly dividend of $0.40 (a 3.2% yield) and has seen insider share sales, while institutional investors hold about 83.79% of the stock.

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-one ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $57.1875.

FITB has been the subject of several recent research reports. Argus increased their target price on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Morgan Stanley cut their target price on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Wells Fargo & Company increased their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday, January 5th. Janney Montgomery Scott increased their target price on shares of Fifth Third Bancorp from $51.00 to $56.25 and gave the company a "buy" rating in a research note on Wednesday, January 21st. Finally, Truist Financial set a $57.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, April 21st.

Fifth Third Bancorp Stock Up 0.1%

FITB stock opened at $50.46 on Monday. Fifth Third Bancorp has a 12 month low of $36.48 and a 12 month high of $55.44. The firm has a market cap of $45.70 billion, a PE ratio of 16.93, a P/E/G ratio of 1.03 and a beta of 0.94. The firm has a 50 day simple moving average of $48.11 and a 200 day simple moving average of $47.31. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.87. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the business earned $0.71 earnings per share. Equities research analysts forecast 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. Investors of record on Tuesday, March 31st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp's dividend payout ratio is 53.69%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the company's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the sale, the executive vice president owned 76,299 shares of the company's stock, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Hedge funds have recently made changes to their positions in the company. AE Wealth Management LLC increased its stake in Fifth Third Bancorp by 4.7% in the 3rd quarter. AE Wealth Management LLC now owns 348,001 shares of the financial services provider's stock valued at $15,503,000 after buying an additional 15,627 shares during the period. Bahl & Gaynor Inc. increased its stake in Fifth Third Bancorp by 18.0% in the 3rd quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider's stock valued at $7,189,000 after buying an additional 24,566 shares during the period. Envestnet Asset Management Inc. increased its stake in Fifth Third Bancorp by 2.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,023,145 shares of the financial services provider's stock valued at $90,131,000 after buying an additional 48,080 shares during the period. Generali Asset Management SPA SGR acquired a new position in Fifth Third Bancorp in the 3rd quarter valued at approximately $1,314,000. Finally, Westfield Capital Management Co. LP increased its stake in Fifth Third Bancorp by 26.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,619,948 shares of the financial services provider's stock valued at $72,169,000 after buying an additional 340,030 shares during the period. Hedge funds and other institutional investors own 83.79% of the company's stock.

About Fifth Third Bancorp

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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