Fifth Third Bancorp (NASDAQ:FITB) Given New $54.00 Price Target at Stephens

Fifth Third Bancorp (NASDAQ:FITB) had its price objective upped by Stephens from $52.00 to $54.00 in a report published on Wednesday morning,MarketScreener reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on FITB. UBS Group increased their price target on Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Argus raised their target price on Fifth Third Bancorp from $46.00 to $49.00 in a report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fifth Third Bancorp in a research report on Wednesday, October 8th. Morgan Stanley set a $60.00 price objective on Fifth Third Bancorp and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Citigroup raised their price objective on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and an average target price of $50.95.

Fifth Third Bancorp Trading Up 1.2%

Fifth Third Bancorp stock opened at $48.13 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $47.62. The company has a market capitalization of $31.82 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99. The stock has a 50-day moving average price of $42.91 and a 200 day moving average price of $42.64.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The company had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. Sell-side analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. Fifth Third Bancorp’s dividend payout ratio is presently 47.76%.

Insider Activity

In other Fifth Third Bancorp news, Director Evan Bayh purchased 3,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the completion of the transaction, the director owned 84,942 shares of the company’s stock, valued at $3,501,309.24. The trade was a 3.66% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Townsquare Capital LLC boosted its stake in Fifth Third Bancorp by 2.9% during the first quarter. Townsquare Capital LLC now owns 19,243 shares of the financial services provider’s stock worth $754,000 after buying an additional 545 shares during the last quarter. Independent Advisor Alliance grew its holdings in shares of Fifth Third Bancorp by 2.1% in the first quarter. Independent Advisor Alliance now owns 15,254 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 319 shares during the period. Public Sector Pension Investment Board increased its position in Fifth Third Bancorp by 2.9% during the first quarter. Public Sector Pension Investment Board now owns 179,109 shares of the financial services provider’s stock worth $7,021,000 after purchasing an additional 5,115 shares during the last quarter. HighTower Advisors LLC raised its stake in Fifth Third Bancorp by 28.7% during the first quarter. HighTower Advisors LLC now owns 199,513 shares of the financial services provider’s stock worth $7,821,000 after purchasing an additional 44,502 shares during the period. Finally, Resona Asset Management Co. Ltd. raised its stake in Fifth Third Bancorp by 5.6% during the first quarter. Resona Asset Management Co. Ltd. now owns 205,032 shares of the financial services provider’s stock worth $8,025,000 after purchasing an additional 10,826 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

About Fifth Third Bancorp

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.