Other research analysts have also issued reports about the company. Jefferies Group reissued a buy rating and issued a $21.00 price objective (up from $19.50) on shares of Fifth Third Bancorp in a report on Friday, May 27th. Deutsche Bank AG reissued a hold rating on shares of Fifth Third Bancorp in a report on Saturday, June 4th. Citigroup Inc. raised their target price on Fifth Third Bancorp from $19.00 to $20.00 and gave the company a neutral rating in a research report on Monday, June 6th. Susquehanna downgraded Fifth Third Bancorp from a positive rating to a neutral rating and set a $20.00 target price on the stock. in a research report on Tuesday, June 7th. Finally, Morgan Stanley downgraded Fifth Third Bancorp from an overweight rating to an equal weight rating and decreased their target price for the company from $21.00 to $20.00 in a research report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $20.41.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up 0.19% on Thursday, reaching $20.84. 648,116 shares of the company’s stock were exchanged. Fifth Third Bancorp has a one year low of $13.84 and a one year high of $21.14. The firm has a market cap of $15.97 billion, a PE ratio of 10.15 and a beta of 1.27. The company has a 50 day moving average price of $19.86 and a 200 day moving average price of $18.33.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same quarter in the previous year, the business posted $0.36 EPS. Analysts expect that Fifth Third Bancorp will post $1.60 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.52 dividend on an annualized basis and a yield of 2.50%. Fifth Third Bancorp’s dividend payout ratio is currently 25.49%.
A number of large investors have recently bought and sold shares of FITB. Macquarie Group Ltd. increased its stake in Fifth Third Bancorp by 5.3% in the second quarter. Macquarie Group Ltd. now owns 419,950 shares of the financial services provider’s stock worth $7,387,000 after buying an additional 21,000 shares in the last quarter. Williams Jones & Associates LLC purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth $956,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth $545,000. Kentucky Retirement Systems purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth $1,148,000. Finally, Mason Street Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth $1,819,000. Institutional investors own 79.73% of the company’s stock.
About Fifth Third Bancorp
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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