Fifth Third Bancorp (NASDAQ:FITB) Receives $46.75 Average PT from Analysts

Fifth Third Bancorp (NASDAQ:FITB) has earned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $46.75.

A number of analysts have commented on the stock. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Citigroup increased their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Unison Advisors LLC boosted its position in shares of Fifth Third Bancorp by 0.8% during the 4th quarter. Unison Advisors LLC now owns 102,537 shares of the financial services provider’s stock worth $4,373,000 after purchasing an additional 795 shares during the period. ExodusPoint Capital Management LP purchased a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $11,352,000. World Investment Advisors boosted its position in Fifth Third Bancorp by 94.3% in the 4th quarter. World Investment Advisors now owns 11,930 shares of the financial services provider’s stock valued at $504,000 after buying an additional 5,791 shares during the period. Cinctive Capital Management LP boosted its position in Fifth Third Bancorp by 191.7% in the 4th quarter. Cinctive Capital Management LP now owns 256,186 shares of the financial services provider’s stock valued at $10,832,000 after buying an additional 168,365 shares during the period. Finally, Bryce Point Capital LLC purchased a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $524,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 1.3 %

FITB stock opened at $43.43 on Friday. The company has a market cap of $29.12 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.44 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The firm has a 50-day moving average of $43.91 and a two-hundred day moving average of $43.49.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.41%. Fifth Third Bancorp’s payout ratio is currently 47.13%.

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.