Fifth Third Bancorp’s Hold Rating Reaffirmed at Goldman Sachs Group Inc. (FITB)
Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “hold” rating restated by stock analysts at Goldman Sachs Group Inc. in a report issued on Monday, American Banking & Market News reports. They currently have a $20.00 price target on the stock. Goldman Sachs Group Inc.’s price target points to a potential upside of 10.80% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Guggenheim cut their price target on shares of Fifth Third Bancorp (NASDAQ:FITB) from $25.00 to $23.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, 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. 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $18.85.
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 has a 50-day moving average of $18. and a 200-day moving average of $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 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.45 by $0.04. During the same quarter last 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 announced a quarterly dividend, which is scheduled for Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Thursday, September 26th.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company.
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