Fifth Third Bank (FITB) Earns Buy Rating from Vining Sparks

Fifth Third Bank (NASDAQ:FITB)‘s stock had its “buy” rating reaffirmed by stock analysts at Vining Sparks in a report issued on Friday. They presently have a $37.00 price objective on the financial services provider’s stock. Vining Sparks’ price target indicates a potential upside of 17.13% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Zacks Investment Research raised Fifth Third Bank from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday. BidaskClub raised Fifth Third Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Morgan Stanley upped their price objective on Fifth Third Bank from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Fifth Third Bank in a research note on Wednesday, January 24th. Finally, Bank of America upped their price objective on Fifth Third Bank from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $31.05.

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Shares of Fifth Third Bank stock traded down $0.74 on Friday, hitting $31.59. The stock had a trading volume of 1,733,418 shares, compared to its average volume of 5,154,167. Fifth Third Bank has a twelve month low of $23.20 and a twelve month high of $34.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market capitalization of $22,175.78, a P/E ratio of 11.77, a P/E/G ratio of 1.76 and a beta of 1.32.

Fifth Third Bank (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Fifth Third Bank had a return on equity of 9.65% and a net margin of 27.08%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. equities analysts anticipate that Fifth Third Bank will post 2.32 EPS for the current year.

Fifth Third Bank announced that its board has authorized a share repurchase plan on Tuesday, February 27th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

In other Fifth Third Bank news, EVP Aravind Immaneni sold 4,000 shares of the stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $33.60, for a total transaction of $134,400.00. Following the transaction, the executive vice president now directly owns 23,071 shares in the company, valued at approximately $775,185.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark D. Hazel sold 7,500 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $32.81, for a total value of $246,075.00. Following the transaction, the senior vice president now owns 62,254 shares in the company, valued at $2,042,553.74. The disclosure for this sale can be found here. Insiders have sold a total of 183,978 shares of company stock valued at $6,033,127 in the last three months. Insiders own 0.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Sanders Capital LLC boosted its holdings in shares of Fifth Third Bank by 1.1% during the 4th quarter. Sanders Capital LLC now owns 13,300,838 shares of the financial services provider’s stock worth $428,100,000 after buying an additional 148,300 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Fifth Third Bank by 0.9% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock worth $206,228,000 after buying an additional 68,086 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Fifth Third Bank by 4.3% during the 4th quarter. Wells Fargo & Company MN now owns 6,281,010 shares of the financial services provider’s stock worth $190,564,000 after buying an additional 256,235 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Fifth Third Bank by 93.2% during the 4th quarter. First Trust Advisors LP now owns 3,726,358 shares of the financial services provider’s stock worth $113,058,000 after buying an additional 1,797,343 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Fifth Third Bank by 5.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 3,306,843 shares of the financial services provider’s stock worth $100,330,000 after buying an additional 161,441 shares in the last quarter. Hedge funds and other institutional investors own 84.58% of the company’s stock.

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About Fifth Third Bank

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 Bank (NASDAQ:FITB)

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