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 Price Performance

Fifth Third Bancorp stock traded up $0.39 during mid-day trading on Tuesday, hitting $37.62. 3,431,074 shares of the company were exchanged, compared to its average volume of 5,778,268. The company has a market capitalization of $25.81 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. Fifth Third Bancorp has a 1-year low of $31.80 and a 1-year 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. The business has a fifty day moving average of $34.55 and a 200 day moving average of $39.66.

Fifth Third Bancorp (NASDAQ:FITB - Get Rating) last released its 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 return on equity of 12.99% and a net margin of 29.09%. During the same period in the prior year, the company posted $0.94 EPS. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.57 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 3.19%. Fifth Third Bancorp's payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FITB shares. 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 report on Friday, June 17th. Citigroup decreased their target price on Fifth Third Bancorp from $44.00 to $37.00 in a research report on Tuesday, July 12th. Piper Sandler reduced their price objective on Fifth Third Bancorp to $40.00 in a research note on Friday, July 22nd. Barclays dropped their price target on Fifth Third Bancorp from $57.00 to $53.00 and set an "overweight" rating on the stock in a research report on Friday, July 22nd. Finally, Wolfe Research dropped their price objective on shares of 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. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $45.56.