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 2.6 %

NASDAQ:FITB opened at $34.67 on Monday. The firm has a 50 day moving average of $34.91 and a 200 day moving average of $40.02. The stock has a market capitalization of $23.70 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 1.18 and a beta of 1.27. Fifth Third Bancorp has a 52 week low of $31.80 and a 52 week high of $50.64. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.65.

Fifth Third Bancorp (NASDAQ:FITB - Get Rating) last released its quarterly 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 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 fiscal year.

Fifth Third Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FITB. Piper Sandler decreased their target price on shares of Fifth Third Bancorp to $40.00 in a research report on Friday, July 22nd. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $44.00 price target on the stock in a report on Friday, June 17th. Barclays cut their price target on shares of Fifth Third Bancorp from $57.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, July 22nd. Citigroup cut their price target on shares of Fifth Third Bancorp from $44.00 to $37.00 in a report on Tuesday, July 12th. Finally, Bank of America upped their price target 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. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $45.56.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of the firm's 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 completion of the sale, the executive vice president now owns 45,844 shares in the company, valued at approximately $1,693,018.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.67% of the company's stock.