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

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

A number of other research firms also recently commented on FITB. JPMorgan Chase & Co. upgraded shares of Fifth Third Bancorp from a neutral rating to an overweight rating and boosted their target price for the stock from $37.50 to $39.50 in a report on Wednesday, May 1st. Wolfe Research upgraded shares of Fifth Third Bancorp from a peer perform rating to an outperform rating and set a $43.00 target price on the stock in a report on Friday, May 31st. Robert W. Baird reiterated a neutral rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 1st. UBS Group reiterated 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, Evercore ISI boosted their target price on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an in-line rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $36.86.

Fifth Third Bancorp Stock Down 1.0 %

FITB stock opened at $35.28 on Tuesday. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $39.14. The company has a market capitalization of $24.13 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The firm’s 50-day moving average is $36.70 and its two-hundred day moving average is $35.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm earned $0.78 EPS. On average, analysts forecast that Fifth Third Bancorp will post 3.27 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is presently 44.44%.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,357 shares of company stock valued at $816,148. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Large investors have recently added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp in the first quarter worth $29,000. GoalVest Advisory LLC lifted its stake in shares of Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after buying an additional 560 shares during the last quarter. Denali Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $36,000. Financial Management Professionals Inc. lifted its stake in shares of Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $48,000. 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.