Fifth Third Bancorp (NASDAQ:FITB) – Analysts at Oppenheimer Holdings issued their FY2016 earnings estimates for shares of Fifth Third Bancorp in a research report issued on Wednesday. Oppenheimer Holdings analyst B. Chittenden expects that the firm will earn $1.83 per share for the year. Oppenheimer Holdings has a “Market Perform” rating on the stock.
A number of other brokerages also recently commented on FITB. Evercore ISI downgraded Fifth Third Bancorp to a “hold” rating and set a $18.00 price target for the company. in a report on Friday, July 15th. Stephens downgraded Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 5th. Wedbush initiated coverage on Fifth Third Bancorp in a report on Thursday, October 6th. They issued a “neutral” rating and a $22.00 price target for the company. Credit Suisse Group AG reissued a “sell” rating on shares of Fifth Third Bancorp in a report on Tuesday, July 12th. Finally, Compass Point raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating in a report on Thursday, September 22nd. Two research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have given a buy rating to the company’s stock. Fifth Third Bancorp has an average rating of “Hold” and an average price target of $20.64.
Fifth Third Bancorp (NASDAQ:FITB) traded up 0.25% during mid-day trading on Friday, hitting $19.79. The company had a trading volume of 11,484,853 shares. Fifth Third Bancorp has a 52-week low of $13.84 and a 52-week high of $21.14. The stock’s 50 day moving average price is $20.33 and its 200 day moving average price is $18.69. The firm has a market cap of $15.17 billion, a P/E ratio of 9.64 and a beta of 1.33.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same period in the prior year, the firm earned $0.36 EPS.
Several hedge funds have recently made changes to their positions in FITB. Ameriprise Financial Inc. raised its stake in shares of Fifth Third Bancorp by 53.2% in the second quarter. Ameriprise Financial Inc. now owns 13,362,943 shares of the financial services provider’s stock valued at $235,080,000 after buying an additional 4,642,322 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Fifth Third Bancorp during the second quarter valued at about $66,857,000. Bank of Montreal Can purchased a new stake in shares of Fifth Third Bancorp during the second quarter valued at about $58,829,000. Glenmede Trust Co. NA raised its stake in shares of Fifth Third Bancorp by 2,270.4% in the second quarter. Glenmede Trust Co. NA now owns 1,610,187 shares of the financial services provider’s stock valued at $28,322,000 after buying an additional 1,542,259 shares in the last quarter. Finally, Hexavest Inc. raised its stake in shares of Fifth Third Bancorp by 28,864.0% in the second quarter. Hexavest Inc. now owns 1,541,464 shares of the financial services provider’s stock valued at $27,114,000 after buying an additional 1,536,142 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.63%. Fifth Third Bancorp’s payout ratio is currently 25.49%.
About Fifth Third Bancorp
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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