Short Interest in Fifth Third Bancorp Declines By 13.2% (FITB)
Fifth Third Bancorp (NASDAQ:FITB) saw a significant decline in short interest in May. As of May 30th, there was short interest totalling 10,849,351 shares, a decline of 13.2% from the May 15th total of 12,506,421 shares, AnalystRatingsNetwork.com reports. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 7,696,738 shares, the short-interest ratio is presently 1.4 days.
FITB has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Fifth Third Bancorp from $22.00 to $24.00 in a research note on Monday, June 9th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Fifth Third Bancorp in a research note on Friday, June 6th. They now have a $22.00 price target on the stock. Finally, analysts at Sterne Agee initiated coverage on shares of Fifth Third Bancorp in a research note on Friday, May 30th. They set a “buy” rating and a $25.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $22.61.
Fifth Third Bancorp (NASDAQ:FITB) opened at 21.11 on Tuesday. Fifth Third Bancorp has a 1-year low of $17.33 and a 1-year high of $23.90. The stock’s 50-day moving average is $20.73 and its 200-day moving average is $21.30. The company has a market cap of $17.954 billion and a P/E ratio of 11.12.
Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results 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 $1.71 earnings per share for the current fiscal year.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company.
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