Barclays Boosts Fifth Third Bancorp (NASDAQ:FITB) Price Target to $43.00

Fifth Third Bancorp (NASDAQ:FITB) had its price objective hoisted by Barclays from $37.00 to $43.00 in a report published on Wednesday morning, The Fly reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research analysts have also commented on the stock. Morgan Stanley boosted their price objective on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock an overweight rating in a research note on Wednesday, March 24th. TheStreet upgraded shares of Fifth Third Bancorp from a c+ rating to a b- rating in a research note on Tuesday, March 9th. Argus boosted their price objective on shares of Fifth Third Bancorp from $27.00 to $35.00 in a research note on Wednesday, January 27th. Stephens boosted their price objective on shares of Fifth Third Bancorp from $36.00 to $46.00 and gave the stock an overweight rating in a research note on Tuesday, March 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Fifth Third Bancorp from $30.00 to $38.00 and gave the stock a hold rating in a research note on Thursday, April 1st. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Fifth Third Bancorp currently has a consensus rating of Buy and a consensus target price of $33.67.

NASDAQ:FITB opened at $38.40 on Wednesday. Fifth Third Bancorp has a one year low of $14.47 and a one year high of $40.46. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 0.91. The firm has a market cap of $27.30 billion, a P/E ratio of 19.10, a P/E/G ratio of 1.54 and a beta of 1.63. The firm has a 50-day simple moving average of $36.88 and a 200-day simple moving average of $29.18.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Wednesday, January 20th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.69 by $0.14. Fifth Third Bancorp had a net margin of 17.50% and a return on equity of 7.52%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business posted $0.68 EPS. On average, research analysts predict that Fifth Third Bancorp will post 1.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Tuesday, March 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 38.99%.

In other news, Director Mitchell Feiger sold 60,000 shares of the company’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $38.20, for a total value of $2,292,000.00. Following the sale, the director now directly owns 3,271 shares of the company’s stock, valued at approximately $124,952.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert P. Shaffer sold 8,900 shares of the company’s stock in a transaction on Friday, January 29th. The shares were sold at an average price of $28.96, for a total transaction of $257,744.00. The disclosure for this sale can be found here. Insiders sold a total of 100,936 shares of company stock worth $3,779,352 over the last ninety days. Insiders own 0.52% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearview Wealth Advisors LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $25,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Fifth Third Bancorp by 223.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 956 shares of the financial services provider’s stock worth $26,000 after buying an additional 660 shares in the last quarter. Vantage Consulting Group Inc purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $27,000. West Oak Capital LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $28,000. Finally, Childress Capital Advisors LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $29,000. 79.19% of the stock is currently owned by hedge funds and other institutional investors.

About Fifth Third Bancorp

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.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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