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 Trading Up 2.5 %

Shares of Fifth Third Bancorp stock traded up $0.92 during trading hours on Thursday, reaching $37.08. The stock had a trading volume of 4,732,666 shares, compared to its average volume of 5,826,656. The firm has a market capitalization of $25.44 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.65. Fifth Third Bancorp has a 1 year low of $31.80 and a 1 year high of $50.64. The firm has a 50 day simple moving average of $34.67 and a two-hundred day simple moving average of $39.88.

Fifth Third Bancorp (NASDAQ:FITB - Get Rating) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.76 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the company earned $0.94 EPS. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 3.57 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.24%. Fifth Third Bancorp's payout ratio is currently 36.25%.

Analyst Ratings Changes

FITB has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Fifth Third Bancorp from $55.00 to $47.50 and set a "buy" rating for the company in a research report on Tuesday, May 31st. Citigroup lowered their target price on Fifth Third Bancorp from $44.00 to $37.00 in a report on Tuesday, July 12th. Wedbush upped their target price on Fifth Third Bancorp to $48.00 and gave the company a "na" rating in a report on Tuesday, May 17th. Wolfe Research decreased their price objective on Fifth Third Bancorp from $47.00 to $37.00 and set a "peer perform" rating on the stock in a research note on Thursday, May 26th. Finally, Piper Sandler decreased their price objective on Fifth Third Bancorp to $40.00 in a research note on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.56.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $36.93, for a total value of $92,325.00. Following the completion of the transaction, the executive vice president now owns 45,844 shares in the company, valued at approximately $1,693,018.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.67% of the company's stock.