Keefe, Bruyette & Woods Boosts Fifth Third Bancorp (NASDAQ:FITB) Price Target to $51.00

Fifth Third Bancorp (NASDAQ:FITB) had its target price boosted by Keefe, Bruyette & Woods from $45.00 to $51.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

FITB has been the subject of several other research reports. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Evercore ISI increased their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Barclays increased their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Citigroup increased their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley increased their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $44.81.

Fifth Third Bancorp Stock Down 0.4 %

FITB opened at $46.86 on Wednesday. The firm has a 50 day moving average price of $44.98 and a 200 day moving average price of $41.23. The company has a market cap of $31.42 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.28 and a beta of 1.22. Fifth Third Bancorp has a 1 year low of $30.01 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $0.92 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts expect that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.16%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its holdings in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the period. American Capital Advisory LLC acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $34,000. Legacy Investment Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the 3rd quarter valued at $36,000. Hexagon Capital Partners LLC boosted its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Fifth Third Bancorp during the 3rd quarter worth about $39,000. 83.79% of the stock is currently owned by institutional investors.

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.