Fifth Third Bancorp’s (FITB) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $47.00 price target on the financial services provider’s stock.

Several other brokerages have also recently issued reports on FITB. Keefe, Bruyette & Woods boosted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Evercore ISI upped their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Citigroup raised their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.14.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $43.93 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $29.46 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The company has a 50-day simple moving average of $44.91 and a two-hundred day simple moving average of $43.02.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.37%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Insider Activity at Fifth Third Bancorp

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

Institutional Trading of Fifth Third Bancorp

Several institutional investors have recently added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at $25,000. Venturi Wealth Management LLC boosted its position in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Fifth Third Bancorp in the 3rd quarter worth about $36,000. Hexagon Capital Partners LLC lifted its stake in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $39,000. 83.79% of the stock is currently owned by institutional investors.

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.