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 Down 0.5 %

NASDAQ:FITB traded down $0.18 during trading on Monday, hitting $34.49. 3,724,016 shares of the company traded hands, compared to its average volume of 5,843,644. Fifth Third Bancorp has a 12 month low of $31.80 and a 12 month high of $50.64. The business has a fifty day simple moving average of $34.82 and a 200 day simple moving average of $39.95. 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 company has a market capitalization of $23.58 billion, a P/E ratio of 10.42, a PEG ratio of 1.18 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB - Get Rating) last posted its earnings results on Thursday, July 21st. The financial services provider reported $0.76 earnings per share 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 prior year, the business earned $0.94 EPS. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.57 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.20 annualized dividend and a yield of 3.48%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analyst Weigh In

FITB has been the subject of several research reports. Jefferies Financial Group reduced their price objective on Fifth Third Bancorp from $47.00 to $39.00 in a research note on Monday, July 11th. Barclays decreased their target price on Fifth Third Bancorp from $57.00 to $53.00 and set an "overweight" rating for the company in a research report on Friday, July 22nd. The Goldman Sachs Group decreased their target price 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. Wells Fargo & Company decreased their target price on Fifth Third Bancorp from $52.00 to $43.00 and set an "overweight" rating for the company in a research report on Friday, July 1st. Finally, Robert W. Baird raised Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $44.00 target price for the company in a research report on Friday, June 17th. Five 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, the stock has an average rating of "Moderate Buy" and an average target price of $45.56.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, May 17th. The stock was 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by corporate insiders.