Fifth Third Bancorp - FITB Stock Forecast, Price & News

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers. Its Branch Banking segment provides a range of deposit and loan products to individuals and small businesses. This segment offers checking and savings accounts, home equity loans and lines of credit, credit cards, and loans for automobiles and personal financing needs, as well as cash management services for small businesses. The company's Consumer Lending segment engages in direct lending activities that include origination, retention, and servicing of residential mortgage and home equity loans or lines of credit; and indirect lending activities, including loans to consumers through correspondent lenders and automobile dealers. Fifth Third Bancorp's Wealth & Asset Management segment provides various investment alternatives for individuals, companies, and not-for-profit organizations. It offers retail brokerage services to individual clients; and broker dealer services to the institutional marketplace. This segment also provides wealth planning, investment management, banking, insurance, and trust and estate services; and advisory services for institutional clients comprising middle market businesses, non-profits, states, and municipalities. As of December 31, 2021, the company operated 1,117 full-service banking centers and 2,322 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina, and South Carolina. Fifth Third Bancorp was founded in 1858 and is headquartered in Cincinnati, Ohio.

Fifth Third Bancorp Stock Down 0.7 %

Shares of NASDAQ:FITB opened at $37.23 on Tuesday. Fifth Third Bancorp has a 1 year low of $31.80 and a 1 year high of $50.64. The firm's 50 day moving average price is $34.60 and its 200 day moving average price is $39.71. The firm has a market cap of $25.55 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.75 and a current ratio of 0.76.

Fifth Third Bancorp (NASDAQ:FITB - Get Rating) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.11). Fifth Third Bancorp had a return on equity of 12.99% and a net margin of 29.09%. During the same quarter last year, the business posted $0.94 EPS. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.57 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.22%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $50.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, July 12th. Wolfe Research cut their price target on shares of Fifth Third Bancorp from $47.00 to $37.00 and set a "peer perform" rating for the company in a report on Thursday, May 26th. The Goldman Sachs Group dropped their target price on shares of Fifth Third Bancorp from $55.00 to $47.50 and set a "buy" rating for the company in a report on Tuesday, May 31st. Piper Sandler dropped their target price on shares of Fifth Third Bancorp to $40.00 in a report on Friday, July 22nd. Finally, Wedbush increased their price target on shares of Fifth Third Bancorp to $48.00 and gave the company a "na" rating in a research report on Tuesday, May 17th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.56.