By otakuyassine3@gmail.com 
Robert W. Baird upgraded shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) from a neutral rating to an outperform rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have $47.00 price target on the financial services provider’s stock.
A number of other research analysts have also recently issued reports on the stock. Citigroup cut their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Barclays boosted their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, Stephens restated an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.12.
Check Out Our Latest Research Report on Fifth Third Bancorp
Fifth Third Bancorp Trading Up 0.9 %
Shares of Fifth Third Bancorp stock opened at $34.07 on Monday. The stock has a market capitalization of $22.76 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a 50-day simple moving average of $41.28 and a 200 day simple moving average of $43.30.
Fifth Third Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s payout ratio is 47.13%.
Insider Transactions at Fifth Third Bancorp
In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.
Institutional Trading of Fifth Third Bancorp
A number of large investors have recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at about $25,000. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $28,000. Quarry LP acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $29,000. BankPlus Trust Department bought a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp during the 3rd quarter worth approximately $36,000. Institutional investors own 83.79% of the company’s stock.
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.
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