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 1.1 %

Shares of Fifth Third Bancorp stock opened at $37.49 on Friday. The firm has a market capitalization of $25.73 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.27 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. The firm's 50 day moving average is $34.60 and its 200 day moving average is $39.77. Fifth Third Bancorp has a 1 year low of $31.80 and a 1 year high of $50.64.

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 (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 quarter in the prior year, the business earned $0.94 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 3.57 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Wednesday, June 29th. Fifth Third Bancorp's payout ratio is 36.25%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wedbush lifted their price objective on shares of Fifth Third Bancorp to $48.00 and gave the stock a "na" rating in a research note on Tuesday, May 17th. Wolfe Research dropped their price objective on shares of Fifth Third Bancorp from $47.00 to $37.00 and set a "peer perform" rating for the company in a research note on Thursday, May 26th. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $44.00 price objective for the company in a research note on Friday, June 17th. Piper Sandler dropped their price objective on shares of Fifth Third Bancorp to $40.00 in a research note on Friday, July 22nd. Finally, Barclays dropped their price objective on shares of Fifth Third Bancorp from $57.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday, July 22nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Fifth Third Bancorp has an average rating of "Moderate Buy" and an average target price of $45.56.

Insiders Place Their Bets

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