Analysts Set Fifth Third Bancorp (NASDAQ:FITB) PT at $35.63

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have earned a consensus rating of "Hold" from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $35.63.

A number of equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Fifth Third Bancorp from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, December 18th. Robert W. Baird reissued a "neutral" rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 1st. Stephens reissued an "equal weight" rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. UBS Group restated a "neutral" rating and set a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a "market perform" rating in a research report on Friday, April 5th.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 26,500 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares of the company's stock, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO James C. Leonard sold 26,500 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares of the company's stock, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jude Schramm sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares of the company's stock, valued at $5,072,172.36. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in FITB. Fairfield Bush & CO. lifted its holdings in Fifth Third Bancorp by 1.4% during the 1st quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider's stock valued at $1,570,000 after purchasing an additional 502 shares during the last quarter. Aviva PLC lifted its holdings in Fifth Third Bancorp by 22.0% during the 1st quarter. Aviva PLC now owns 255,764 shares of the financial services provider's stock valued at $11,008,000 after purchasing an additional 46,064 shares during the last quarter. Prudential PLC acquired a new stake in Fifth Third Bancorp during the 1st quarter valued at $754,000. Cetera Investment Advisers lifted its holdings in Fifth Third Bancorp by 13.0% during the 1st quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider's stock valued at $2,365,000 after purchasing an additional 6,341 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in Fifth Third Bancorp by 60.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider's stock valued at $5,224,000 after purchasing an additional 45,910 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB traded down $0.33 during trading hours on Friday, hitting $34.53. The stock had a trading volume of 3,340,002 shares, compared to its average volume of 5,070,304. The company's fifty day moving average is $35.09 and its two-hundred day moving average is $31.53. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.41. The stock has a market capitalization of $23.52 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 1.31 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. On average, analysts anticipate that Fifth Third Bancorp will post 3.19 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 4.05%. Fifth Third Bancorp's payout ratio is 43.34%.

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.