Fifth Third Bancorp (NASDAQ:FITB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $46.75.

A number of research analysts have commented on FITB shares. Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Truist Financial boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. DA Davidson increased their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of institutional investors have recently bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec acquired a new position in Fifth Third Bancorp during the fourth quarter valued at $6,655,000. AQR Capital Management LLC raised its stake in shares of Fifth Third Bancorp by 453.9% during the 4th quarter. AQR Capital Management LLC now owns 464,863 shares of the financial services provider’s stock valued at $19,654,000 after buying an additional 380,933 shares during the last quarter. Lido Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 170.8% in the 4th quarter. Lido Advisors LLC now owns 254,963 shares of the financial services provider’s stock valued at $10,874,000 after buying an additional 160,814 shares during the period. Northern Trust Corp boosted its stake in shares of Fifth Third Bancorp by 12.7% in the fourth quarter. Northern Trust Corp now owns 7,074,520 shares of the financial services provider’s stock worth $299,111,000 after buying an additional 798,663 shares during the last quarter. Finally, Quarry LP acquired a new stake in Fifth Third Bancorp during the fourth quarter worth about $29,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

FITB opened at $44.06 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The business’s fifty day simple moving average is $43.77 and its 200-day simple moving average is $43.49. The company has a market capitalization of $29.54 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a 12-month low of $33.03 and a 12-month high of $49.07.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

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.