Fifth Third Bancorp (NASDAQ:FITB) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research report sent to investors on Monday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $40.00 price objective on the financial services provider’s stock, up from their prior price objective of $39.00.

Several other research firms also recently issued reports on FITB. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an overweight rating in a report on Thursday, March 28th. UBS Group reiterated a neutral rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Morgan Stanley boosted their price objective on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Robert W. Baird restated a neutral rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Finally, Stephens restated an equal weight rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $36.31.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $37.23 on Monday. The company has a market cap of $25.36 billion, a P/E ratio of 11.82, a PEG ratio of 1.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.41. The business’s 50-day simple moving average is $35.42 and its 200 day simple moving average is $32.10.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the business earned $0.78 EPS. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.76%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,357 shares of company stock valued at $1,693,888. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp during the first quarter worth $29,000. GoalVest Advisory LLC raised its position in shares of Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares during the period. Denali Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $36,000. Financial Management Professionals Inc. raised its position in shares of Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Fifth Third Bancorp by 322.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,730 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 1,320 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

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.