Fifth Third Bancorp (NASDAQ:FITB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given a consensus recommendation of “Moderate Buy” by the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $46.75.

FITB has been the topic of several research analyst reports. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Barclays boosted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their price target 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of 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.

Fifth Third Bancorp Stock Performance

FITB opened at $44.04 on Friday. The stock’s 50 day simple moving average is $44.14 and its 200-day simple moving average is $43.41. The stock has a market cap of $29.53 billion, a PE ratio of 14.03, a P/E/G ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PL Capital Advisors LLC boosted its position in Fifth Third Bancorp by 4,128.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock valued at $78,654,000 after purchasing an additional 1,816,320 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Fifth Third Bancorp during the fourth quarter valued at $38,971,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Fifth Third Bancorp by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock worth $912,692,000 after buying an additional 812,385 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $28,490,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Fifth Third Bancorp by 76.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after acquiring an additional 575,449 shares during the period. 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.