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

FITB has been the topic of a number of other reports. Barclays PLC restated an “equal weight” rating and set a $21.00 price target on shares of Fifth Third Bancorp in a research report on Sunday, July 10th. Credit Suisse Group AG lowered Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 6th. 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. Morgan Stanley lowered Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $21.00 to $20.00 in a research report on Tuesday, July 5th. Finally, BMO Capital Markets restated a “market perform” rating and set a $19.00 price target (down from $20.00) on shares of Fifth Third Bancorp in a research report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the stock. Fifth Third Bancorp currently has an average rating of “Hold” and a consensus price target of $20.41.

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up 0.96% during midday trading on Thursday, hitting $20.94. The stock had a trading volume of 2,827,977 shares. Fifth Third Bancorp has a 52 week low of $13.84 and a 52 week high of $21.14. The stock has a 50 day moving average price of $19.80 and a 200-day moving average price of $18.32. The stock has a market capitalization of $16.05 billion, a price-to-earnings ratio of 10.20 and a beta of 1.27.

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Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ 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 in the previous year, the firm posted $0.36 earnings per share. Equities research analysts anticipate that Fifth Third Bancorp will post $1.60 earnings per share for the current year.

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

Institutional investors have recently made changes to their positions in the stock. Global X Management Co. LLC boosted its position 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 last quarter. Brick & Kyle Associates boosted its position 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 last quarter. Acrospire Investment Management LLC bought a new position in shares of Fifth Third Bancorp during the first quarter valued at $112,000. Advisory Services Network LLC boosted its position 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 last quarter. Finally, Duncker Streett & Co. Inc. boosted its position 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 last quarter. Institutional investors 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.

5 Day Chart for NASDAQ:FITB

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