Fifth Third Bancorp (NASDAQ:FITB) has recently earned a “Moderate Buy” rating from seventeen research firms, as per Bloomberg Ratings report. The company’s stock has received praise from four analysts, while only one analyst rated it as ‘sell’. Additionally, the average price target for the next twelve months stands at $35.59 among brokers who have updated their coverage on FITB in the last year.
FITB recently unveiled its quarterly dividend which was paid on April 17th to record-holding stockholders on March 31st, amounting to $0.33 per share. As reported by the ex-dividend date on March 30th and an annualized dividend of $1.32 with a dividend yield of 5.21%, Fifth Third Bancorp dividend payout ratio is presently 38.15%.
Large investors have also shown interest in FITB, including Toroso Investments LLC which increased its stake in Fifth Third Bancorp by 104.8% during the first quarter. Raleigh Capital Management Inc also marks an increase of 42.1% in its holdings in the financial services provider’s stock valued at $357,000 after purchasing an additional 3,978 shares.
Moreover, Arete Wealth Advisors LLC acquired new positions worth about $594,000 while Ameriprise Financial Inc increased its holdings in shares by 3.2% and Guardian Wealth Advisors LLC acquired fresh positions worth approximately $102,000 in FITB during the first quarter.
It’s interesting to note that institutional investors and hedge funds own around 80.17% of FitB’s stock at present – a strong indication that it is considered a worthy investment option among those who are monitoring its performance.
As we approach the end of May, many will be eyeing FitB closely to see how it continues to perform and whether it can maintain or exceed market expectations based on what we know so far this year. Overall, FITB appears to be taking strides in the right direction, gaining attention from some of the biggest investors out there. Its ‘Moderate Buy’ rating is a positive sign for those seeking stability and growth potential in their investment portfolio.
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Mixed Messages: A Look at the Latest News on Fifth Third Bancorp (FITB)
The latest news in the financial world regarding Fifth Third Bancorp, or FITB, has piqued the interest of many investors. In late March, Goldman Sachs lowered their target price on FITB from $40.00 to $35.00 but maintained a “buy” rating on the stock. Just a few weeks later, Citigroup also decreased their target price, this time from $40.00 to $30.00.
These ratings have caused some concern among investors and shareholders alike and have led to mixed feelings about the future of FITB stocks. The opinions of financial analysts at StockNews.com seem to align with those of Citigroup as they recently initiated coverage on FITB and rated it as a “sell.”
However, not everyone is losing faith in FITB. Barclays dropped their target price from $47.00 to $36.00 but still opted for an “overweight” rating on the stock. Similarly, Morgan Stanley cut their price target from $37.00 to $29.00 but kept an “equal weight” rating.
With such mixed messages surrounding Fifth Third Bancorp, it’s hard for potential investors to know if purchasing shares would be a wise decision or not.
In other news related to FITB stocks, Directors Gary R. Heminger and Evan Bayh recently acquired stocks in significant amounts – 33,000 shares each – in transactions that saw Bayh paying an average cost per share of roughly $24 while Heminger paid approximately $26 per share.
FITB isn’t shy about distributing dividends either as they recently announced a quarterly dividend payout of $0.33 per share on April 17th with Stockholders who bought shares before March 31st eligible for this payout.
Overall, despite some negative ratings by leading research analysts and lower-than-expected EPS data in its Q1 results posted last month, those interested in investing should keep note that FITB’s P/E ratio of 7.33, price-to-earnings-growth ratio of 0.89, and beta of 1.17 still give it a solid financial standing. Investors should continue to monitor FITB’s future performance closely before making any investment decisions.
