Fifth Third Bancorp (NASDAQ:FITB) Stock Rating Upgraded by Baird R W

Baird R W upgraded shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on 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. Robert W. Baird raised 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 report on Monday, April 7th. DA Davidson raised their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Morgan Stanley cut their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.12.

Fifth Third Bancorp Stock Up 0.0 %

Shares of NASDAQ:FITB traded up $0.01 on Monday, reaching $33.84. The company had a trading volume of 5,836,563 shares, compared to its average volume of 4,470,798. The stock has a market capitalization of $22.61 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.42 and a beta of 0.99. The stock has a 50-day moving average price of $40.10 and a 200 day moving average price of $42.94. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is 47.13%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares of the company's stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of hedge funds have recently made changes to their positions in the company. Quantinno Capital Management LP increased its holdings in shares of Fifth Third Bancorp by 17.1% during the third quarter. Quantinno Capital Management LP now owns 75,257 shares of the financial services provider's stock worth $3,224,000 after buying an additional 10,991 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Fifth Third Bancorp by 73.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 16,070 shares of the financial services provider's stock valued at $688,000 after purchasing an additional 6,814 shares in the last quarter. iA Global Asset Management Inc. bought a new position in Fifth Third Bancorp in the 3rd quarter valued at $358,000. National Bank of Canada FI boosted its stake in Fifth Third Bancorp by 149.8% in the third quarter. National Bank of Canada FI now owns 482,454 shares of the financial services provider's stock worth $20,668,000 after purchasing an additional 289,316 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of Fifth Third Bancorp by 13.9% during the third quarter. Orion Portfolio Solutions LLC now owns 10,499 shares of the financial services provider's stock worth $450,000 after purchasing an additional 1,285 shares during the last quarter. Institutional investors and hedge funds 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.