Fifth Third Bancorp’s (FITB) “Neutral” Rating Reiterated at Robert W. Baird

Robert W. Baird restated their neutral rating on shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) in a report released on Monday morning, Marketbeat.com reports. They currently have a $32.00 price objective on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Evercore ISI raised their target price on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an in-line rating in a report on Thursday, March 28th. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. The Goldman Sachs Group raised their target price on shares of Fifth Third Bancorp from $32.00 to $36.00 and gave the company a buy rating in a report on Monday, December 18th. Stephens reaffirmed an equal weight rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Finally, Keefe, Bruyette & Woods lowered shares of Fifth Third Bancorp from an outperform rating to a market perform rating and lifted their price target for the company from $33.00 to $37.00 in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of Hold and an average price target of $35.50.

View Our Latest Stock Report on Fifth Third Bancorp

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $35.84 on Monday. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.41. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96. The company has a 50-day simple moving average of $34.97 and a two-hundred day simple moving average of $31.01. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the company earned $1.04 EPS. Analysts forecast that Fifth Third Bancorp will post 3.17 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 43.34%.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GoalVest Advisory LLC lifted its position in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares during the period. Denali Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $36,000. Clear Street Markets LLC lifted its position in shares of Fifth Third Bancorp by 93.4% during the 1st quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 647 shares during the period. Financial Management Professionals Inc. lifted its position in shares of Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,000 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Fifth Third Bancorp

(Get Free Report)

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.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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