Brokerages Set Fifth Third Bancorp (NASDAQ:FITB) Price Target at $40.15

Shares of Fifth Third Bancorp (NASDAQ:FITB) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $40.15.

Several equities research analysts recently weighed in on the company. Wolfe Research raised Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Friday, May 31st. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. UBS Group reissued a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the sale, the executive vice president now owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,000 shares of company stock valued at $1,523,670. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Fifth Third Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after acquiring an additional 734,403 shares in the last quarter. Capital World Investors raised its position in shares of Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after purchasing an additional 5,512,333 shares during the period. Boston Partners boosted its holdings in Fifth Third Bancorp by 11.5% in the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after buying an additional 1,499,194 shares during the period. Dimensional Fund Advisors LP increased its stake in Fifth Third Bancorp by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,247,695 shares of the financial services provider’s stock worth $318,979,000 after buying an additional 393,489 shares in the last quarter. Finally, Norges Bank bought a new stake in Fifth Third Bancorp during the fourth quarter valued at about $257,189,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 0.7 %

NASDAQ:FITB opened at $41.99 on Tuesday. The company has a 50-day moving average price of $37.47 and a 200-day moving average price of $36.22. The stock has a market cap of $28.72 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 1.99 and a beta of 1.24. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $42.53.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business earned $0.87 earnings per share. Equities analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is 44.44%.

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.