Fifth Third Bancorp (FITB) Receives Consensus Recommendation of “Hold” from Brokerages
Fifth Third Bancorp (NASDAQ:FITB) has earned an average rating of “Hold” from the thirty-three ratings firms that are currently covering the stock. Two analysts have rated the stock with a sell recommendation, twenty-one have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $20.85.
Several equities research analysts have recently issued reports on FITB shares. Nomura restated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. Wells Fargo & Co. restated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. FBR & Co restated a “hold” rating and set a $20.00 price objective on shares of Fifth Third Bancorp in a report on Friday, July 29th. Jefferies Group cut Fifth Third Bancorp from a “buy” rating to a “hold” rating and raised their price objective for the stock from $19.50 to $22.00 in a report on Friday. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded down 1.40% during midday trading on Tuesday, reaching $20.39. The company’s stock had a trading volume of 2,921,114 shares. The firm’s 50 day moving average is $20.28 and its 200 day moving average is $18.66. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 9.93 and a beta of 1.33. Fifth Third Bancorp has a 52 week low of $13.84 and a 52 week high of $21.14.
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Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, topping the 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 quarter in the prior year, the business earned $0.36 earnings per share. Equities analysts forecast that Fifth Third Bancorp will post $1.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.13 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.52 dividend on an annualized basis and a yield of 2.51%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 25.49%.
Large investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its stake in 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 worth $110,000 after buying an additional 3,371 shares during the period. Acrospire Investment Management LLC purchased a new stake in Fifth Third Bancorp during the first quarter worth $112,000. Advisory Services Network LLC increased its stake in 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 worth $112,000 after buying an additional 3,857 shares during the period. Duncker Streett & Co. Inc. increased its stake in 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 worth $113,000 after buying an additional 20 shares during the period. Finally, Atria Investments LLC purchased a new stake in Fifth Third Bancorp during the second quarter worth $179,000. Hedge funds and other 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.
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