Several other brokerages have also issued reports on FITB. Evercore ISI lowered shares of Fifth Third Bancorp to a hold rating and set a $18.00 price target for the company. in a research note on Friday, July 15th. Deutsche Bank AG restated a hold rating on shares of Fifth Third Bancorp in a research note on Wednesday, June 15th. Credit Suisse Group AG restated a sell rating on shares of Fifth Third Bancorp in a research note on Tuesday, July 12th. Oppenheimer Holdings Inc. lowered shares of Fifth Third Bancorp from an outperform rating to a market perform rating in a research note on Wednesday, July 6th. Finally, Compass Point upgraded shares of Fifth Third Bancorp from a neutral rating to a buy rating in a research note on Thursday, September 22nd. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $20.59.
Fifth Third Bancorp (NASDAQ:FITB) traded down 0.48% during midday trading on Wednesday, reaching $20.64. 2,592,932 shares of the company’s stock traded hands. Fifth Third Bancorp has a 52-week low of $13.84 and a 52-week high of $21.14. The company’s 50-day moving average price is $20.18 and its 200-day moving average price is $18.57. The stock has a market cap of $15.82 billion, a P/E ratio of 10.05 and a beta of 1.33.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a net margin of 23.36% and a return on equity of 9.25%. During the same period last year, the business posted $0.36 earnings per share. On average, equities analysts predict that Fifth Third Bancorp will post $1.60 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.52 annualized dividend and a dividend yield of 2.51%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 25.49%.
Several institutional investors have recently bought and sold shares of the stock. Willis Investment Counsel increased its position in Fifth Third Bancorp by 33.9% in the first quarter. Willis Investment Counsel now owns 585,370 shares of the financial services provider’s stock valued at $9,770,000 after buying an additional 148,200 shares during the period. Credit Agricole S A increased its position in Fifth Third Bancorp by 18.6% in the first quarter. Credit Agricole S A now owns 1,430,096 shares of the financial services provider’s stock valued at $23,869,000 after buying an additional 224,172 shares during the period. Aviva PLC increased its position in Fifth Third Bancorp by 0.4% in the first quarter. Aviva PLC now owns 453,977 shares of the financial services provider’s stock valued at $7,577,000 after buying an additional 1,703 shares during the period. Algebris Investments UK LLP increased its position in Fifth Third Bancorp by 105.2% in the first quarter. Algebris Investments UK LLP now owns 277,063 shares of the financial services provider’s stock valued at $4,624,000 after buying an additional 142,050 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new position in Fifth Third Bancorp during the first quarter valued at about $12,160,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.
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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