Bank of America Corp. Upgrades Fifth Third Bancorp to Buy (FITB)
Fifth Third Bancorp (NASDAQ:FITB) was upgraded by equities research analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, AnalystRatingsNetwork.com reports.
Fifth Third Bancorp (NASDAQ:FITB) opened at 20.65 on Thursday. Fifth Third Bancorp has a 1-year low of $15.43 and a 1-year high of $21.96. The stock has a 50-day moving average of $21.10 and a 200-day moving average of $19.5. The company has a market cap of $17.662 billion and a price-to-earnings ratio of 10.19.
Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Thursday, January 23rd. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.42 by $0.01. During the same quarter last year, the company posted $0.43 earnings per share. Analysts expect that Fifth Third Bancorp will post $1.76 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust raised their price target on shares of Fifth Third Bancorp from $21.00 to $23.00 in a research note to investors on Friday, January 31st. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Fifth Third Bancorp from $20.00 to $22.00 in a research note to investors on Monday, January 27th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Fifth Third Bancorp in a research note to investors on Friday, January 24th. They now have a $22.50 price target on the stock. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.03.
In other Fifth Third Bancorp news, EVP Joseph Robinson sold 8,500 shares of the stock on the open market in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $20.98, for a total value of $178,330.00. Following the transaction, the executive vice president now directly owns 43,784 shares of the company’s stock, valued at approximately $918,588. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company.
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