Fifth Third Bancorp (FITB) Given Consensus Recommendation of “Hold” by Brokerages

Fifth Third Bancorp (NASDAQ:FITB) has been assigned an average rating of “Hold” from the twenty brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $32.92.

A number of brokerages recently commented on FITB. Piper Jaffray Companies set a $31.00 price objective on Fifth Third Bancorp and gave the stock a “hold” rating in a research note on Monday. BidaskClub raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley decreased their price objective on Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 18th. BMO Capital Markets decreased their price objective on Fifth Third Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, October 24th. Finally, Wedbush set a $34.00 price objective on Fifth Third Bancorp and gave the stock a “buy” rating in a research note on Thursday, September 20th.

Shares of Fifth Third Bancorp stock traded up $0.01 during trading on Tuesday, reaching $26.64. 216,187 shares of the company were exchanged, compared to its average volume of 6,860,246. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.00. Fifth Third Bancorp has a twelve month low of $24.10 and a twelve month high of $34.67. The stock has a market cap of $17.28 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Fifth Third Bancorp had a return on equity of 11.74% and a net margin of 28.89%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the firm earned $1.35 earnings per share. Analysts expect that Fifth Third Bancorp will post 2.51 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.70%. Fifth Third Bancorp’s payout ratio is 26.87%.

A number of large investors have recently bought and sold shares of FITB. BlackRock Inc. grew its stake in Fifth Third Bancorp by 5.9% in the second quarter. BlackRock Inc. now owns 48,455,130 shares of the financial services provider’s stock valued at $1,390,661,000 after acquiring an additional 2,718,504 shares during the period. Janus Henderson Group PLC grew its stake in Fifth Third Bancorp by 119.9% in the second quarter. Janus Henderson Group PLC now owns 4,875,534 shares of the financial services provider’s stock valued at $139,929,000 after acquiring an additional 2,658,672 shares during the period. Schroder Investment Management Group grew its stake in Fifth Third Bancorp by 106.3% in the second quarter. Schroder Investment Management Group now owns 4,166,562 shares of the financial services provider’s stock valued at $119,747,000 after acquiring an additional 2,146,656 shares during the period. Millennium Management LLC lifted its holdings in shares of Fifth Third Bancorp by 658.6% in the second quarter. Millennium Management LLC now owns 1,622,956 shares of the financial services provider’s stock valued at $46,579,000 after purchasing an additional 1,409,021 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Fifth Third Bancorp by 16.9% in the second quarter. Wells Fargo & Company MN now owns 7,362,392 shares of the financial services provider’s stock valued at $211,301,000 after purchasing an additional 1,062,218 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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