Fifth Third Bancorp PT Lowered to $23.00 (FITB)
Stock analysts at Guggenheim lowered their price objective on shares of Fifth Third Bancorp (NASDAQ:FITB) from $25.00 to $23.00 in a report issued on Monday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 27.42% from the company’s current price.
Fifth Third Bancorp (NASDAQ:FITB) traded down 0.17% during mid-day trading on Monday, hitting $18.05. 6,050,561 shares of the company’s stock traded hands. Fifth Third Bancorp has a one year low of $13.75 and a one year high of $19.79. The stock’s 50-day moving average is $18. and its 200-day moving average is $17.96. The company has a market cap of $15.369 billion and a price-to-earnings ratio of 9.45.
Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Thursday, July 18th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.04. During the same quarter in the prior year, the company posted $0.40 earnings per share. Analysts expect that Fifth Third Bancorp will post $1.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, September 26th.
FITB has been the subject of a number of other recent research reports. Analysts at Rafferty Capital Markets downgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, September 25th. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, September 17th. They now have a $20.00 price target on the stock, down previously from $21.00. Finally, analysts at Raymond James downgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, September 9th. They now have a $20.00 price target on the stock. Seventeen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $18.85.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.