DA Davidson Raises Fifth Third Bancorp (NASDAQ:FITB) Price Target to $50.00

Fifth Third Bancorp (NASDAQ:FITB) had its price objective raised by DA Davidson from $49.00 to $50.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research firms have also weighed in on FITB. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Morgan Stanley lifted their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods lifted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI increased their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Stock Down 0.2 %

Shares of FITB stock opened at $43.85 on Thursday. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The stock has a market cap of $29.40 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.95 and a beta of 1.24. The stock has a 50 day moving average of $44.85 and a 200 day moving average of $43.02. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.38%. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Retirement Wealth Solutions LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter worth about $25,000. Venturi Wealth Management LLC grew its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC raised its position in shares of Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in Fifth Third Bancorp in the third quarter valued at approximately $39,000. Hedge funds and other 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.