Fifth Third Bancorp (NASDAQ:FITB) Price Target Raised to $50.00

Fifth Third Bancorp (NASDAQ:FITB) had its price objective hoisted by DA Davidson from $49.00 to $50.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Fifth Third Bancorp’s Q1 2025 earnings at $0.76 EPS.

A number of other equities research analysts have also recently commented on the stock. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods lifted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Morgan Stanley upped their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp Price Performance

FITB opened at $44.18 on Thursday. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The stock has a 50-day moving average price of $44.72 and a 200-day moving average price of $43.08. The firm has a market cap of $29.62 billion, a PE ratio of 14.07, a P/E/G ratio of 1.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.13%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds have recently made changes to their positions in the business. Boston Common Asset Management LLC grew its position in shares of Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after purchasing an additional 34,203 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Fifth Third Bancorp by 15.1% during the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock valued at $3,078,000 after buying an additional 9,444 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Fifth Third Bancorp by 13.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock worth $19,776,000 after buying an additional 55,081 shares during the period. Icon Wealth Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $541,000. Finally, Nordea Investment Management AB boosted its holdings in Fifth Third Bancorp by 8.9% during the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock valued at $28,286,000 after acquiring an additional 54,463 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

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.