Fifth Third Bancorp (NASDAQ:FITB) Research Coverage Started at Truist Financial

Truist Financial began coverage on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research note issued to investors on Tuesday,Benzinga reports. The firm issued a buy rating and a $51.00 price target on the financial services provider’s stock.

FITB has been the topic of several other research reports. Keefe, Bruyette & Woods upped their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Evercore ISI upped their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.92.

Fifth Third Bancorp Price Performance

FITB opened at $42.42 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The company has a market cap of $28.44 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 2.18 and a beta of 1.22. The stock has a fifty day simple moving average of $45.23 and a two-hundred day simple moving average of $42.54. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last issued 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 return on equity of 14.58% and a net margin of 16.58%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. Research analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.49%. Fifth Third Bancorp’s dividend payout ratio is presently 49.17%.

Insider Buying and Selling

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently bought and sold shares of the business. Venturi Wealth Management LLC raised its holdings in Fifth Third Bancorp by 89.5% during 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 bought a new position in Fifth Third Bancorp during the third quarter valued at $36,000. Hexagon Capital Partners LLC raised its stake in shares of Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 312 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth about $39,000. Finally, Versant Capital Management Inc boosted its stake in shares of Fifth Third Bancorp by 232.0% during the 4th quarter. Versant Capital Management Inc now owns 1,006 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 703 shares during the period. 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.