Fifth Third Bancorp Short Interest Up 150.7% in July (FITB)
Shares of Fifth Third Bancorp (NASDAQ:FITB) were the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 17,981,836 shares, an increase of 150.7% from the July 15th total of 7,173,413 shares, AR Network reports. Based on an average daily trading volume, of 11,209,229 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.1% of the company’s stock are sold short.
FITB has been the subject of a number of recent research reports. Analysts at Macquarie reiterated a “neutral” rating on shares of Fifth Third Bancorp in a research note on Monday, July 21st. They now have a $22.00 price target on the stock, down previously from $23.00. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Fifth Third Bancorp from $24.00 to $22.00 in a research note on Monday, July 21st. Finally, analysts at Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating in a research note on Monday, July 21st. They now have a $23.00 price target on the stock, up previously from $22.00. They noted that the move was a valuation call. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $22.86.
Fifth Third Bancorp (NASDAQ:FITB) traded down 0.36% during mid-day trading on Monday, hitting $19.60. 5,710,029 shares of the company’s stock traded hands. Fifth Third Bancorp has a one year low of $17.49 and a one year high of $23.90. The stock has a 50-day moving average of $20.8 and a 200-day moving average of $21.34. The company has a market cap of $16.552 billion and a price-to-earnings ratio of 11.29.
Fifth Third Bancorp (NASDAQ:FITB) last released its earnings data on Thursday, July 17th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.06. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. Analysts expect that Fifth Third Bancorp will post $1.72 EPS for the current fiscal year.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company.
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