Fifth Third Bancorp (FITB) Rating Lowered to Hold at BidaskClub

Fifth Third Bancorp (NASDAQ:FITB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday, December 16th.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Monday, September 25th. Royal Bank of Canada reissued a “buy” rating on shares of Fifth Third Bancorp in a report on Sunday, December 10th. Morgan Stanley boosted their price objective on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. Piper Jaffray Companies reissued a “hold” rating and set a $27.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Finally, BMO Capital Markets reissued a “hold” rating and set a $29.00 price objective on shares of Fifth Third Bancorp in a report on Thursday, October 5th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.33.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded up $0.28 during trading on Friday, hitting $31.86. 4,566,188 shares of the stock were exchanged, compared to its average volume of 5,782,349. Fifth Third Bancorp has a twelve month low of $23.20 and a twelve month high of $31.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $22,340.00, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same period in the previous year, the business posted $0.65 earnings per share. equities analysts forecast that Fifth Third Bancorp will post 1.79 EPS for the current fiscal year.

In other news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Commerce Bank boosted its stake in shares of Fifth Third Bancorp by 1.0% in the second quarter. Commerce Bank now owns 16,552 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 166 shares during the period. Wesbanco Bank Inc. boosted its stake in shares of Fifth Third Bancorp by 0.6% in the second quarter. Wesbanco Bank Inc. now owns 32,103 shares of the financial services provider’s stock valued at $833,000 after purchasing an additional 200 shares during the period. Sawtooth Solutions LLC boosted its stake in shares of Fifth Third Bancorp by 4.6% in the second quarter. Sawtooth Solutions LLC now owns 10,531 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 465 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Fifth Third Bancorp by 1.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 38,331 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 612 shares during the period. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Fifth Third Bancorp by 5.6% in the second quarter. Greenwood Capital Associates LLC now owns 12,535 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 660 shares during the period. 83.84% of the stock is owned by institutional investors.

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Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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