Shares of Fifth Third Bancorp (NASDAQ:FITB) have been assigned an average recommendation of “Hold” from the twenty-six ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $28.97.
FITB has been the topic of several analyst reports. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, September 25th. Deutsche Bank reiterated a “hold” rating and issued a $27.00 target price (up from $24.00) on shares of Fifth Third Bancorp in a research note on Tuesday, September 26th. Nomura lifted their target price on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, September 28th. Instinet reiterated a “neutral” rating and issued a $29.00 target price (up from $28.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 30th. Finally, Robert W. Baird downgraded Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research note on Monday, October 2nd.
Fifth Third Bancorp (NASDAQ FITB) traded up $0.15 on Friday, reaching $32.92. The company’s stock had a trading volume of 7,390,000 shares, compared to its average volume of 6,270,000. The firm has a market capitalization of $23,230.00, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 2.22 and a beta of 1.35. Fifth Third Bancorp has a 52 week low of $23.20 and a 52 week high of $33.17. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.94%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 24.15%.
In related news, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the sale, the executive vice president now directly owns 154,577 shares in the company, valued at $4,461,092.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.38% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Fifth Third Bancorp by 1.1% in the second quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock valued at $1,502,604,000 after buying an additional 639,361 shares in the last quarter. Sanders Capital LLC boosted its position in Fifth Third Bancorp by 1.7% during the third quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after purchasing an additional 224,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Fifth Third Bancorp by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after purchasing an additional 431,863 shares in the last quarter. Janus Henderson Group PLC boosted its position in Fifth Third Bancorp by 7,461.4% during the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after purchasing an additional 7,511,357 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Fifth Third Bancorp by 0.9% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock worth $206,228,000 after purchasing an additional 68,086 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.
About Fifth Third Bancorp
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.