ValuEngine Upgrades Fifth Third Bancorp (NASDAQ:FITB) to “Hold”

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ValuEngine upgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from a sell rating to a hold rating in a research report report published on Friday morning, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. Deutsche Bank upgraded shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Friday, October 25th. Cfra raised shares of Fifth Third Bancorp from a hold rating to a buy rating in a research report on Tuesday, October 29th. UBS Group decreased their price target on shares of Fifth Third Bancorp from $36.00 to $35.00 and set a buy rating for the company in a report on Friday. Bank of America raised their price objective on Fifth Third Bancorp from $30.00 to $31.00 and gave the stock a buy rating in a research note on Wednesday, October 23rd. Finally, Barclays raised Fifth Third Bancorp from an equal weight rating to an overweight rating and set a $38.00 price objective on the stock in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $31.57.

Shares of FITB stock opened at $28.50 on Friday. The stock has a market cap of $20.23 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.36 and a beta of 1.40. The stock has a 50-day moving average of $30.24 and a 200-day moving average of $28.59. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.88 and a quick ratio of 0.87. Fifth Third Bancorp has a one year low of $24.17 and a one year high of $31.64.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.05). The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $1.94 billion. Fifth Third Bancorp had a return on equity of 10.96% and a net margin of 25.65%. During the same period in the previous year, the business earned $0.69 EPS. As a group, research analysts anticipate that Fifth Third Bancorp will post 2.96 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, December 30th. Fifth Third Bancorp’s payout ratio is presently 34.66%.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $30.53, for a total value of $228,975.00. Following the sale, the executive vice president now owns 55,474 shares of the company’s stock, valued at approximately $1,693,621.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Philip Mchugh sold 36,382 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $30.56, for a total value of $1,111,833.92. Company insiders own 0.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its position in Fifth Third Bancorp by 34,364.2% in the 3rd quarter. Millennium Management LLC now owns 5,872,706 shares of the financial services provider’s stock valued at $160,794,000 after buying an additional 5,855,666 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Fifth Third Bancorp in the 3rd quarter valued at approximately $31,213,000. Russell Investments Group Ltd. boosted its position in Fifth Third Bancorp by 23.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,583,397 shares of the financial services provider’s stock worth $125,673,000 after acquiring an additional 855,653 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $16,751,000. Finally, Boston Partners boosted its position in Fifth Third Bancorp by 4.1% during the 3rd quarter. Boston Partners now owns 11,098,097 shares of the financial services provider’s stock worth $303,962,000 after acquiring an additional 442,099 shares during the last quarter. 78.67% of the stock is owned by institutional investors.

Fifth Third Bancorp Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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