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.
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
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.