Fifth Third Bancorp (NASDAQ:FITB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Fifth Third Bancorp (NASDAQ:FITB) had its price target upped by Wells Fargo & Company from $52.00 to $54.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on the stock. Evercore ISI lifted 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. Argus upped their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Barclays upped their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley increased their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and an average price target of $43.09.

Fifth Third Bancorp Trading Down 0.4 %

FITB stock opened at $46.82 on Friday. The company has a market capitalization of $31.39 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 2.25 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a 1-year low of $26.89 and a 1-year high of $48.10. The business has a 50 day simple moving average of $43.72 and a two-hundred day simple moving average of $40.48.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company earned $0.92 EPS. Fifth Third Bancorp’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. This represents a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. OneDigital Investment Advisors LLC raised its position in shares of Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after buying an additional 222 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its stake in Fifth Third Bancorp by 7.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 232 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of Fifth Third Bancorp by 9.9% during the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 248 shares during the last quarter. Diversified Trust Co lifted its position in Fifth Third Bancorp by 2.6% during the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after buying an additional 259 shares in the last quarter. Finally, Metis Global Partners LLC grew its holdings in Fifth Third Bancorp by 1.2% in the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock valued at $932,000 after buying an additional 260 shares in the last quarter. 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.