BidaskClub Lowers Fifth Third Bancorp (NASDAQ:FITB) to Hold

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Fifth Third Bancorp (NASDAQ:FITB) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, BidAskClub reports.

FITB has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, October 23rd. Morgan Stanley dropped their price objective on Fifth Third Bancorp from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. UBS Group upgraded Fifth Third Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $32.00 to $33.00 in a research note on Friday, October 25th. Raymond James upped their price objective on Fifth Third Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Nomura set a $29.00 price objective on Fifth Third Bancorp and gave the company a “hold” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.43.

Shares of NASDAQ FITB opened at $29.81 on Thursday. Fifth Third Bancorp has a twelve month low of $22.12 and a twelve month high of $30.89. The stock’s 50 day moving average price is $28.08 and its 200-day moving average price is $27.62. The company has a market capitalization of $22.01 billion, a PE ratio of 10.84, a PEG ratio of 1.50 and a beta of 1.40. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.74.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. Fifth Third Bancorp had a return on equity of 11.40% and a net margin of 24.36%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business earned $0.64 EPS. As a group, research analysts expect that Fifth Third Bancorp will post 2.81 EPS for the current fiscal year.

In other Fifth Third Bancorp news, EVP Philip Mchugh sold 36,382 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $30.56, for a total transaction of $1,111,833.92. Also, Director Evan Bayh bought 4,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of $25.93 per share, for a total transaction of $103,720.00. Following the transaction, the director now owns 48,517 shares of the company’s stock, valued at $1,258,045.81. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.

Large investors have recently bought and sold shares of the business. Covington Capital Management purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth $25,000. FinTrust Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp in the third quarter worth $32,000. NEXT Financial Group Inc increased its holdings in shares of Fifth Third Bancorp by 53.9% in the second quarter. NEXT Financial Group Inc now owns 1,265 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 443 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Fifth Third Bancorp by 4,403.4% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,306 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,277 shares during the period. Finally, CWM LLC increased its holdings in shares of Fifth Third Bancorp by 47.7% in the second quarter. CWM LLC now owns 1,532 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 495 shares during the period. Hedge funds and other institutional investors own 78.26% of the company’s stock.

About Fifth Third Bancorp

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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