Fifth Third Bancorp Sees Significant Growth in Short Interest (FITB)
Fifth Third Bancorp (NASDAQ:FITB) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 12,506,421 shares, an increase of 34.6% from the April 30th total of 9,292,793 shares, Stock Ratings News reports. Based on an average trading volume of 8,496,202 shares, the short-interest ratio is currently 1.5 days. Approximately 1.5% of the shares of the company are short sold.
In other Fifth Third Bancorp news, EVP Teresa J. Tanner sold 15,949 shares of Fifth Third Bancorp stock on the open market in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $20.74, for a total transaction of $330,782.26. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on FITB. Analysts at Sterne Agee initiated coverage on shares of Fifth Third Bancorp in a research note on Friday. They set a “buy” rating and a $25.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of Fifth Third Bancorp in a research note on Wednesday, May 14th. They set a “neutral” rating and a $23.00 price target on the stock. Finally, analysts at Guggenheim cut their price target on shares of Fifth Third Bancorp from $26.00 to $24.50 in a research note on Tuesday, May 6th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $22.50.
Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 20.69 on Monday. Fifth Third Bancorp has a one year low of $17.33 and a one year high of $23.90. The stock has a 50-day moving average of $20.73 and a 200-day moving average of $21.19. The company has a market cap of $17.597 billion and a P/E ratio of 10.69.
Fifth Third Bancorp (NASDAQ:FITB) last released its earnings data on Thursday, April 17th. The company reported $0.36 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.41 by $0.05. During the same quarter last year, the company posted $0.46 earnings per share. On average, analysts predict that Fifth Third Bancorp will post $1.70 earnings per share for the current fiscal year.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company.
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