Fifth Third Bancorp (FITB) Downgraded by BidaskClub

Fifth Third Bancorp (NASDAQ:FITB) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other equities analysts also recently commented on FITB. Nomura upped their price objective on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, September 28th. Barclays upped their price objective on shares of Fifth Third Bancorp from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday. Robert W. Baird reaffirmed a “sell” rating and set a $29.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday. Zacks Investment Research downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Instinet reaffirmed a “neutral” rating and set a $29.00 price objective (up from $28.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 30th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $29.23.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at $30.63 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $31.83. The stock has a market cap of $21,534.34, a PE ratio of 11.47, a price-to-earnings-growth ratio of 2.21 and a beta of 1.35.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the business posted $0.65 earnings per share. equities research analysts anticipate that Fifth Third Bancorp will post 1.79 EPS for the current year.

In related news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the transaction, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Atlantic Trust Group LLC bought a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $1,230,000. Hellman Jordan Management Co. Inc. MA bought a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $614,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Fifth Third Bancorp by 0.9% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock valued at $206,228,000 after purchasing an additional 68,086 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Fifth Third Bancorp by 4.1% during the third quarter. Public Employees Retirement System of Ohio now owns 353,364 shares of the financial services provider’s stock valued at $9,887,000 after purchasing an additional 13,855 shares in the last quarter. Finally, Truepoint Inc. bought a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $211,000. 83.84% of the stock is owned by institutional investors and hedge funds.

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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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