Fifth Third Bancorp’s (FITB) Hold Rating Reiterated at BMO Capital Markets

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “hold” rating reiterated by research analysts at BMO Capital Markets in a note issued to investors on Friday, May 26th. They presently have a $27.00 target price on the financial services provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 5.63% from the stock’s current price.

Several other research firms have also weighed in on FITB. TheStreet lowered shares of Fifth Third Bancorp from a “b” rating to a “c+” rating in a research note on Friday, May 26th. Royal Bank Of Canada reissued a “buy” rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research note on Thursday, May 18th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $26.50 price objective on shares of Fifth Third Bancorp in a research note on Friday, May 26th. Hilliard Lyons raised shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $27.00 price objective on the stock in a research note on Monday, March 20th. Finally, Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, February 27th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $25.30.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ FITB) traded down 0.12% during trading on Friday, hitting $25.56. The company’s stock had a trading volume of 5,912,232 shares. The firm has a market cap of $19.18 billion, a PE ratio of 13.37 and a beta of 1.35. The company has a 50-day moving average of $24.54 and a 200 day moving average of $25.89. Fifth Third Bancorp has a one year low of $16.14 and a one year high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, April 25th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. Fifth Third Bancorp had a net margin of 22.64% and a return on equity of 10.12%. During the same quarter last year, the firm earned $0.40 EPS. On average, equities analysts forecast that Fifth Third Bancorp will post $1.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.19%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 29.17%.

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In other news, CAO Teresa J. Tanner sold 26,010 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $24.90, for a total value of $647,649.00. Following the completion of the sale, the chief accounting officer now owns 41,286 shares of the company’s stock, valued at $1,028,021.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Frank R. Forrest sold 13,321 shares of the business’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $24.63, for a total transaction of $328,096.23. Following the completion of the sale, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at approximately $1,768,261.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,315 shares of company stock valued at $2,716,947. Company insiders own 0.38% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Diversified Trust Co boosted its stake in shares of Fifth Third Bancorp by 0.3% in the first quarter. Diversified Trust Co now owns 10,157 shares of the financial services provider’s stock worth $258,000 after buying an additional 32 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares during the last quarter. Budros Ruhlin & Roe Inc. boosted its stake in shares of Fifth Third Bancorp by 0.4% in the third quarter. Budros Ruhlin & Roe Inc. now owns 10,473 shares of the financial services provider’s stock worth $214,000 after buying an additional 38 shares during the last quarter. Bragg Financial Advisors Inc boosted its stake in Fifth Third Bancorp by 0.4% in the first quarter. Bragg Financial Advisors Inc now owns 12,479 shares of the financial services provider’s stock valued at $317,000 after buying an additional 55 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in Fifth Third Bancorp by 0.5% in the first quarter. Savant Capital LLC now owns 17,722 shares of the financial services provider’s stock valued at $450,000 after buying an additional 87 shares in the last quarter. 81.20% of the stock is owned by institutional investors.

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.

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