Fifth Third Bancorp’s (FITB) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $53.00 target price on the financial services provider’s stock, down from their previous target price of $54.00.

A number of other brokerages have also recently issued reports on FITB. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Evercore ISI upped their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Truist Financial increased their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Trading Up 0.8 %

FITB stock opened at $44.18 on Wednesday. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $44.78 and its 200-day moving average is $43.03. The firm has a market cap of $29.62 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.91 and a beta of 1.24.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed 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 was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.35%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Hedge funds have recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its holdings in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at $36,000. Hexagon Capital Partners LLC raised its stake in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new position in Fifth Third Bancorp during the third quarter worth about $39,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.