Fifth Third Bancorp (FITB) Downgraded by BidaskClub

BidaskClub cut shares of Fifth Third Bancorp (NASDAQ:FITB) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research analysts have also recently weighed in on FITB. Oppenheimer reaffirmed a hold rating on shares of Fifth Third Bancorp in a research report on Thursday, December 7th. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the company an equal weight rating in a research report on Wednesday, December 13th. Nomura lifted their price target on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a neutral rating in a research report on Thursday, September 28th. BMO Capital Markets reaffirmed a hold rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research report on Friday, December 8th. Finally, Robert W. Baird cut shares of Fifth Third Bancorp from a neutral rating to an underperform rating and set a $24.00 price target on the stock. in a research report on Monday, October 2nd. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have given a buy rating to the company. Fifth Third Bancorp has an average rating of Hold and an average price target of $28.68.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at $30.47 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $31.83. The stock has a market cap of $21,188.60, a P/E ratio of 16.68, a P/E/G ratio of 2.51 and a beta of 1.35.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations 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 company posted $0.65 earnings per share. analysts anticipate 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 Fifth Third Bancorp stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the sale, the executive vice president now owns 154,577 shares in the company, valued at $4,461,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. increased its stake in shares of Fifth Third Bancorp by 1.5% in the second quarter. Prudential Financial Inc. now owns 2,234,087 shares of the financial services provider’s stock worth $57,997,000 after buying an additional 33,660 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Fifth Third Bancorp by 4.9% in the second quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock worth $38,232,000 after buying an additional 68,859 shares during the last quarter. Capital Fund Management S.A. increased its stake in shares of Fifth Third Bancorp by 69.8% in the second quarter. Capital Fund Management S.A. now owns 321,226 shares of the financial services provider’s stock worth $8,339,000 after buying an additional 132,047 shares during the last quarter. Amalgamated Bank increased its stake in shares of Fifth Third Bancorp by 58.0% in the second quarter. Amalgamated Bank now owns 84,592 shares of the financial services provider’s stock worth $2,196,000 after buying an additional 31,048 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Fifth Third Bancorp by 27.6% in the second quarter. Alps Advisors Inc. now owns 13,773 shares of the financial services provider’s stock worth $358,000 after buying an additional 2,983 shares during the last quarter. Institutional investors own 83.97% of the company’s stock.

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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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