Fifth Third Bancorp (NASDAQ:FITB) Given Average Recommendation of “Moderate Buy” by Analysts

Fifth Third Bancorp (NASDAQ:FITB) has earned an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $47.31.

A number of research firms recently weighed in on FITB. DA Davidson upped their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Truist Financial upped their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Stephens reaffirmed an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, Barclays upped their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the company’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 transaction of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Fifth Third Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of FITB. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC lifted 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 worth $29,000 after purchasing an additional 316 shares in the last quarter. BankPlus Trust Department purchased a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $29,000. Finally, Quarry LP purchased a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $29,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Up 0.5 %

FITB opened at $40.06 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The firm has a market capitalization of $26.66 billion, a PE ratio of 12.76, a P/E/G ratio of 1.42 and a beta of 1.21. The company’s 50-day moving average is $43.23 and its 200 day moving average is $43.81.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 47.13%.

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.