Fifth Third Bancorp (NASDAQ:FITB) Short Interest Update

Fifth Third Bancorp (NASDAQ:FITB) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 20,170,000 shares, a growth of 7.2% from the December 31st total of 18,810,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,380,000 shares, the short-interest ratio is presently 4.6 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Truist Financial increased their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. DA Davidson increased their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Citigroup lifted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average price target of $46.75.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently modified their holdings of FITB. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp in the fourth quarter valued at $25,000. Venturi Wealth Management LLC grew its holdings in shares of 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 buying an additional 316 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in Fifth Third Bancorp in the third quarter worth approximately $36,000. Finally, Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the fourth quarter worth $33,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 1.1 %

NASDAQ FITB traded up $0.49 on Tuesday, hitting $44.06. 639,508 shares of the stock traded hands, compared to its average volume of 4,879,995. The company has a market capitalization of $29.54 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The stock has a 50-day moving average of $44.48 and a 200 day moving average of $43.36. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07.

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 given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.36%. Fifth Third Bancorp’s payout ratio is currently 47.13%.

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.