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 Performance

FITB traded up $0.23 on Tuesday, reaching $34.72. The company had a trading volume of 3,078,451 shares, compared to its average volume of 5,825,331. Fifth Third Bancorp has a 1 year low of $31.80 and a 1 year high of $50.64. The stock has a market capitalization of $23.74 billion, a PE ratio of 10.49, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $34.72 and a 200-day moving average price of $39.91.

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

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.30 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.46%. Fifth Third Bancorp's dividend payout ratio is presently 36.25%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Fifth Third Bancorp from $44.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, April 20th. Wedbush lifted their target price on shares of Fifth Third Bancorp to $48.00 and gave the company a "na" rating in a report on Tuesday, May 17th. 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. Morgan Stanley decreased 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 research report on Tuesday, July 12th. Finally, Robert W. Baird raised shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $44.00 price target for the company in a research report on Friday, June 17th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.56.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $36.93, for a total value of $92,325.00. Following the transaction, the executive vice president now directly owns 45,844 shares in the company, valued at $1,693,018.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.