Fifth Third Bancorp’s (FITB) Equal Weight Rating Reaffirmed at Stephens

Stephens reiterated their equal weight rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a report released on Wednesday morning,Benzinga reports. They currently have a $51.00 target price on the financial services provider’s stock.

Several other equities analysts also recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Citigroup lifted their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Truist Financial boosted their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, DA Davidson boosted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. One equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.31.

Fifth Third Bancorp Trading Down 2.8 %

Shares of FITB opened at $40.45 on Wednesday. The stock has a fifty day moving average price of $43.36 and a two-hundred day moving average price of $43.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07. The company has a market cap of $26.92 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.66%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Institutional Trading of Fifth Third Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of FITB. Farther Finance Advisors LLC raised its holdings in Fifth Third Bancorp by 32.0% during the third quarter. Farther Finance Advisors LLC now owns 3,640 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 883 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Fifth Third Bancorp in the third quarter valued at approximately $273,000. National Pension Service raised its stake in Fifth Third Bancorp by 12.6% in the third quarter. National Pension Service now owns 1,156,562 shares of the financial services provider’s stock valued at $49,547,000 after buying an additional 129,226 shares during the period. Asset Management One Co. Ltd. raised its stake in Fifth Third Bancorp by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 257,478 shares of the financial services provider’s stock valued at $11,030,000 after buying an additional 879 shares during the period. Finally, QRG Capital Management Inc. raised its stake in Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock valued at $3,078,000 after buying an additional 9,444 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.