Fifth Third Bancorp (NASDAQ:FITB) was upgraded by equities research analysts at Compass Point from a “neutral” rating to a “buy” rating in a research report issued on Thursday, The Fly reports.

Several other research firms have also issued reports on FITB. Rafferty Capital Markets upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday, September 16th. Susquehanna lowered Fifth Third Bancorp from a “positive” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research report on Tuesday, June 7th. FBR & Co restated a “hold” rating and issued a $20.00 price target on shares of Fifth Third Bancorp in a research report on Friday, July 29th. Citigroup Inc. raised their price target on Fifth Third Bancorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, June 6th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Fifth Third Bancorp in a research report on Saturday, June 4th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $20.41.

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up 0.313% on Thursday, hitting $20.805. The stock had a trading volume of 4,503,068 shares. The stock has a market capitalization of $15.94 billion, a PE ratio of 10.134 and a beta of 1.27. The firm’s 50 day moving average is $19.80 and its 200-day moving average is $18.32. Fifth Third Bancorp has a one year low of $13.84 and a one year high of $21.14.

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Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same period last year, the company posted $0.36 EPS. Equities research analysts expect that Fifth Third Bancorp will post $1.60 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 25.49%.

Several large investors have recently modified their holdings of the stock. Global X Management Co. LLC boosted its stake in shares of Fifth Third Bancorp by 117.7% in the second quarter. Global X Management Co. LLC now owns 6,234 shares of the financial services provider’s stock valued at $110,000 after buying an additional 3,371 shares during the period. Brick & Kyle Associates boosted its stake in shares of Fifth Third Bancorp by 46.1% in the first quarter. Brick & Kyle Associates now owns 6,660 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,100 shares during the period. Acrospire Investment Management LLC bought a new stake in shares of Fifth Third Bancorp during the first quarter valued at about $112,000. Advisory Services Network LLC boosted its stake in shares of Fifth Third Bancorp by 153.2% in the second quarter. Advisory Services Network LLC now owns 6,375 shares of the financial services provider’s stock valued at $112,000 after buying an additional 3,857 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its stake in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock valued at $113,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

About Fifth Third Bancorp

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

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