Fifth Third Bancorp’s (FITB) Equal Weight Rating Reaffirmed at Stephens

Stephens reissued their equal weight rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a report issued on Wednesday morning,Benzinga reports. They currently have a $51.00 price objective on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on FITB. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Citigroup increased their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays increased their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.31.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $40.45 on Wednesday. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $26.92 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business has a 50 day simple moving average of $43.36 and a 200-day simple moving average of $43.80.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Institutional investors have recently modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its stake in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at $28,000. Quarry LP acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at $29,000. Finally, BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.