Stephens Issues Positive Forecast for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB) had its target price boosted by Stephens from $54.00 to $57.00 in a research report released on Thursday morning,MarketScreener reports. Stephens currently has an overweight rating on the financial services provider’s stock.

Several other brokerages also recently commented on FITB. Keefe, Bruyette & Woods raised their price objective on Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday. Morgan Stanley set a $60.00 price target on Fifth Third Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Piper Sandler upped their price objective on Fifth Third Bancorp from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fifth Third Bancorp in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Fifth Third Bancorp Stock Up 0.1%

Shares of NASDAQ:FITB opened at $47.71 on Thursday. The company has a 50 day moving average of $43.39 and a 200-day moving average of $43.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $48.71. The stock has a market cap of $31.54 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 0.97 and a beta of 0.99.

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 business had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders 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 3.4%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.76%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Evan Bayh acquired 3,000 shares of the company’s stock in a transaction on Monday, October 20th. The stock was acquired at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the purchase, the director directly owned 84,942 shares of the company’s stock, valued at $3,501,309.24. This trade represents a 3.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,250 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the transaction, the executive vice president owned 129,191 shares in the company, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Evolution Wealth Management Inc. bought a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at $26,000. Westside Investment Management Inc. lifted its position in Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 292 shares during the period. Banque Transatlantique SA acquired a new stake in Fifth Third Bancorp during the first quarter worth about $27,000. Activest Wealth Management raised its position in shares of Fifth Third Bancorp by 1,043.3% in the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after buying an additional 626 shares in the last quarter. Finally, United Community Bank raised its position in Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 581 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

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.