Fifth Third Bancorp (NASDAQ:FITB) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Fifth Third Bancorp (NASDAQ:FITB) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $42.31 and traded as high as $42.78. Fifth Third Bancorp shares last traded at $42.28, with a volume of 3,028,372 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays raised their price target on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Citigroup raised their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Piper Sandler increased their price target on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.32.

Fifth Third Bancorp Trading Down 0.3 %

The company has a fifty day moving average of $45.39 and a 200-day moving average of $42.31. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $28.28 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.51%. Fifth Third Bancorp’s payout ratio is currently 49.17%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. raised its stake in Fifth Third Bancorp by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider’s stock valued at $35,194,000 after purchasing an additional 14,137 shares during the last quarter. 1ST Source Bank bought a new position in shares of Fifth Third Bancorp during the 3rd quarter worth about $211,000. Franklin Resources Inc. raised its position in shares of Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after buying an additional 409,292 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Fifth Third Bancorp by 10.0% in the third quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 2,265 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Fifth Third Bancorp during the third quarter worth about $191,000. 83.79% of the stock is owned by institutional investors.

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.