Fifth Third Bancorp (NASDAQ:FITB) Research Coverage Started at UBS Group

UBS Group started coverage on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research report sent to investors on Wednesday morning, Analyst Price Targets reports. The firm issued a buy rating and a $56.00 target price on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft restated a hold rating on shares of Fifth Third Bancorp in a research report on Friday, December 17th. Citigroup raised their price target on shares of Fifth Third Bancorp from $47.00 to $48.00 and gave the stock a neutral rating in a research report on Thursday, December 16th. Barclays raised their price target on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research report on Monday, January 3rd. JPMorgan Chase & Co. raised their price target on shares of Fifth Third Bancorp from $45.50 to $48.00 in a research report on Thursday, January 6th. Finally, Wells Fargo & Company lifted their target price on shares of Fifth Third Bancorp from $43.00 to $45.00 and gave the company an equal weight rating in a research report on Monday, October 4th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp presently has an average rating of Buy and a consensus price target of $47.25.

Shares of FITB opened at $50.45 on Wednesday. The company has a market capitalization of $34.50 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.78 and a beta of 1.42. Fifth Third Bancorp has a one year low of $28.25 and a one year high of $50.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.89 and a quick ratio of 0.86. The company’s fifty day moving average price is $44.47 and its 200 day moving average price is $41.48.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Monday, October 18th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.99 billion. Fifth Third Bancorp had a net margin of 32.49% and a return on equity of 13.35%. During the same period last year, the business posted $0.85 EPS. Analysts anticipate that Fifth Third Bancorp will post 3.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Friday, December 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, December 30th. Fifth Third Bancorp’s dividend payout ratio is presently 33.15%.

In related news, EVP Kristine R. Garrett sold 10,740 shares of the business’s stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $45.61, for a total transaction of $489,851.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Howard Hammond sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $43.79, for a total transaction of $175,160.00. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FITB. FMR LLC raised its stake in shares of Fifth Third Bancorp by 4.2% during the first quarter. FMR LLC now owns 815,594 shares of the financial services provider’s stock worth $20,569,000 after buying an additional 32,680 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in Fifth Third Bancorp by 10.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 563,358 shares of the financial services provider’s stock valued at $14,209,000 after purchasing an additional 55,145 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Fifth Third Bancorp by 13.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 132,081 shares of the financial services provider’s stock valued at $5,049,000 after purchasing an additional 15,252 shares during the period. Empirical Finance LLC acquired a new position in Fifth Third Bancorp during the second quarter valued at approximately $322,000. Finally, Gulf International Bank UK Ltd grew its holdings in Fifth Third Bancorp by 3.5% during the second quarter. Gulf International Bank UK Ltd now owns 156,524 shares of the financial services provider’s stock valued at $5,983,000 after purchasing an additional 5,265 shares during the period. 81.02% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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