Fifth Third Bancorp (FITB) – Investment Analysts’ Weekly Ratings Changes

Fifth Third Bancorp (NASDAQ: FITB) recently received a number of ratings updates from brokerages and research firms:

• 7/22/2024 – Fifth Third Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 7/22/2024 – Fifth Third Bancorp had its price target raised by analysts at Royal Bank of Canada from $38.00 to $43.00. They now have an “outperform” rating on the stock.
• 7/22/2024 – Fifth Third Bancorp had its price target raised by analysts at Morgan Stanley from $36.00 to $40.00. They now have an “equal weight” rating on the stock.
• 7/22/2024 – Fifth Third Bancorp had its price target raised by analysts at Bank of America Co. from $42.00 to $45.00. They now have a “buy” rating on the stock.
• 7/22/2024 – Fifth Third Bancorp had its price target raised by analysts at Argus from $42.00 to $46.00. They now have a “buy” rating on the stock.
• 7/12/2024 – Fifth Third Bancorp was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 7/3/2024 – Fifth Third Bancorp had its price target raised by analysts at Jefferies Financial Group Inc. from $42.00 to $43.00. They now have a “buy” rating on the stock.
• 6/25/2024 – Fifth Third Bancorp had its price target lowered by analysts at Evercore ISI from $42.00 to $41.00. They now have an “in-line” rating on the stock.
• 6/11/2024 – Fifth Third Bancorp had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $40.00 price target on the stock.
• 6/11/2024 – Fifth Third Bancorp had its “equal weight” rating reaffirmed by analysts at Stephens. They now have a $41.00 price target on the stock.
• 5/31/2024 – Fifth Third Bancorp was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating. They now have a $43.00 price target on the stock.

Fifth Third Bancorp Price Performance

Shares of FITB traded up $0.27 during midday trading on Tuesday, reaching $42.26. The stock had a trading volume of 4,586,871 shares, compared to its average volume of 4,868,636. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $28.91 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The company’s 50-day moving average is $37.47 and its 200 day moving average is $36.22. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $42.70.

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

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now owns 20,961 shares in the company, valued at $863,802.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now owns 20,961 shares in the company, valued at $863,802.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following 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. Insiders sold a total of 37,000 shares of company stock worth $1,523,670 over the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of large investors have recently made changes to their positions in FITB. Financial Synergies Wealth Advisors Inc. purchased a new stake in Fifth Third Bancorp in the first quarter worth $29,000. American Capital Advisory LLC purchased a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth about $34,000. Denali Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $36,000. Friedenthal Financial purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $48,000. Finally, Centerpoint Advisors LLC raised its stake in Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

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.