Fifth Third Bancorp (NASDAQ:FITB) had its price objective increased by Barclays from $31.00 to $35.00 in a research note issued to investors on Tuesday, January 2nd, Marketbeat Ratings reports. The firm currently has an equal weight rating on the financial services provider’s stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $31.00 target price for the company in a research report on Monday, September 25th. Royal Bank of Canada reaffirmed a buy rating on shares of Fifth Third Bancorp in a research note on Sunday, December 10th. BidaskClub raised shares of Fifth Third Bancorp from a hold rating to a buy rating in a research note on Friday, December 22nd. Morgan Stanley upped their price target on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an equal weight rating in a research note on Wednesday, December 13th. Finally, Piper Jaffray Companies reaffirmed a hold rating and issued a $27.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, October 24th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $29.33.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up $0.33 during trading hours on Tuesday, hitting $31.58. 3,411,900 shares of the company were exchanged, compared to its average volume of 5,956,086. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93. Fifth Third Bancorp has a twelve month low of $23.20 and a twelve month high of $31.92. The company has a market cap of $22,430.00, a P/E ratio of 11.92, a PEG ratio of 2.20 and a beta of 1.35.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 24.15%.
In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the sale, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. New England Research & Management Inc. bought a new position in shares of Fifth Third Bancorp during the 4th quarter worth about $692,000. Atlantic Trust Group LLC bought a new position in shares of Fifth Third Bancorp during the 3rd quarter worth about $1,230,000. Hellman Jordan Management Co. Inc. MA bought a new position in shares of Fifth Third Bancorp during the 3rd quarter worth about $614,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Fifth Third Bancorp by 0.9% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock worth $206,228,000 after acquiring an additional 68,086 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Fifth Third Bancorp by 4.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 353,364 shares of the financial services provider’s stock worth $9,887,000 after acquiring an additional 13,855 shares during the period. 83.84% of the stock is owned by institutional investors.
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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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