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

Keefe, Bruyette & Woods restated their market perform rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research note published on Tuesday, Benzinga reports. They currently have a $40.00 price target on the financial services provider’s stock.

Several other equities analysts have also issued reports on the company. UBS Group reissued a neutral rating and issued a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Robert W. Baird reissued a neutral rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. JPMorgan Chase & Co. raised Fifth Third Bancorp from a neutral rating to an overweight rating and boosted their price target for the company from $37.50 to $39.50 in a research note on Wednesday, May 1st. DA Davidson upped their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a neutral rating in a research report on Monday, April 22nd. Finally, Evercore ISI upped their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an in-line rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp has an average rating of Hold and a consensus price target of $36.86.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $35.22 on Tuesday. The stock’s 50 day moving average is $36.71 and its 200 day moving average is $35.11. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $24.09 billion, a P/E ratio of 11.18, a P/E/G ratio of 2.51 and a beta of 1.24. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. As a group, research analysts expect that Fifth Third Bancorp will post 3.25 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.98%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the company’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 transaction, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,357 shares of company stock worth $816,148. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jump Financial LLC bought a new position in shares of Fifth Third Bancorp during the 3rd quarter worth $216,000. Pathstone Family Office LLC grew its stake in shares of Fifth Third Bancorp by 173.8% during the 3rd quarter. Pathstone Family Office LLC now owns 44,563 shares of the financial services provider’s stock worth $1,132,000 after acquiring an additional 28,286 shares during the period. HighTower Advisors LLC grew its stake in shares of Fifth Third Bancorp by 11.7% during the 3rd quarter. HighTower Advisors LLC now owns 140,937 shares of the financial services provider’s stock worth $3,569,000 after acquiring an additional 14,791 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Fifth Third Bancorp by 15.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 136,905 shares of the financial services provider’s stock worth $3,468,000 after acquiring an additional 18,186 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Fifth Third Bancorp by 77.3% during the 3rd quarter. Blair William & Co. IL now owns 43,116 shares of the financial services provider’s stock worth $1,092,000 after acquiring an additional 18,801 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

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.