Fifth Third Bancorp (FITB) Receives $31.13 Average Target Price from Analysts

Fifth Third Bancorp (NASDAQ:FITB) has been assigned an average rating of “Hold” from the twenty-three ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $31.13.

A number of research firms recently issued reports on FITB. Keefe, Bruyette & Woods raised shares of Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Thursday, April 4th. ValuEngine cut shares of Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, March 25th. Sandler O’Neill raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Citigroup raised shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and dropped their price target for the company from $37.00 to $29.00 in a research note on Wednesday, January 9th. Finally, BidaskClub raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, March 29th.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 26,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $26.37, for a total value of $685,620.00. Following the transaction, the executive vice president now owns 62,974 shares in the company, valued at approximately $1,660,624.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Teresa J. Tanner sold 55,600 shares of Fifth Third Bancorp stock in a transaction on Monday, April 15th. The stock was sold at an average price of $27.47, for a total value of $1,527,332.00. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.



Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanders Capital LLC raised its holdings in shares of Fifth Third Bancorp by 59.6% during the 4th quarter. Sanders Capital LLC now owns 17,818,885 shares of the financial services provider’s stock worth $468,179,000 after acquiring an additional 6,653,168 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Fifth Third Bancorp by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,601,640 shares of the financial services provider’s stock worth $225,927,000 after acquiring an additional 988,392 shares during the period. Geode Capital Management LLC raised its holdings in shares of Fifth Third Bancorp by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 9,475,947 shares of the financial services provider’s stock worth $222,615,000 after acquiring an additional 574,887 shares during the period. Northern Trust Corp raised its holdings in shares of Fifth Third Bancorp by 10.4% during the 4th quarter. Northern Trust Corp now owns 9,220,340 shares of the financial services provider’s stock worth $216,954,000 after acquiring an additional 868,917 shares during the period. Finally, Norges Bank purchased a new position in shares of Fifth Third Bancorp during the 4th quarter worth $161,089,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fifth Third Bancorp stock traded up $0.79 during trading on Tuesday, reaching $28.35. The company had a trading volume of 11,285,707 shares, compared to its average volume of 7,663,991. Fifth Third Bancorp has a 1-year low of $22.12 and a 1-year high of $34.67. The stock has a market capitalization of $17.84 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.27 and a beta of 1.32. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.88.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. During the same period in the previous year, the company posted $0.57 EPS. Sell-side analysts predict that Fifth Third Bancorp will post 2.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.88 dividend on an annualized basis and a yield of 3.10%. Fifth Third Bancorp’s payout ratio is currently 34.65%.

Fifth Third Bancorp Company Profile

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.

Featured Article: The basics of gap trading strategies

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.