Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank of Canada in a report released on Thursday. They presently have a $28.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 17.75% from the stock’s previous close.

Other research analysts have also issued reports about the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, April 25th. Piper Jaffray Companies lowered their target price on shares of Fifth Third Bancorp from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, April 11th. Jefferies Group LLC reissued a “hold” rating and set a $28.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, April 4th. Hilliard Lyons raised shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $26.00 target price for the company in a research note on Wednesday, January 25th. Finally, Rafferty Capital Markets lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, March 7th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.44.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up 0.17% during midday trading on Thursday, hitting $23.82. 2,868,197 shares of the stock were exchanged. Fifth Third Bancorp has a 1-year low of $16.14 and a 1-year high of $28.97. The company has a market capitalization of $17.87 billion, a P/E ratio of 12.46 and a beta of 1.29. The firm has a 50-day moving average of $24.75 and a 200-day moving average of $25.84.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, April 25th. The financial services provider reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. Fifth Third Bancorp had a net margin of 22.53% and a return on equity of 10.15%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm posted $0.40 earnings per share. On average, equities analysts expect that Fifth Third Bancorp will post $1.78 EPS for the current year.

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In other news, CAO Teresa J. Tanner sold 54,984 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $24.88, for a total transaction of $1,368,001.92. Following the completion of the transaction, the chief accounting officer now directly owns 41,286 shares of the company’s stock, valued at approximately $1,027,195.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Frank R. Forrest sold 13,321 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $24.63, for a total value of $328,096.23. Following the transaction, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at $1,768,261.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,315 shares of company stock worth $2,716,947. Insiders own 0.99% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Fifth Third Bancorp by 3,239.3% in the first quarter. BlackRock Inc. now owns 48,949,216 shares of the financial services provider’s stock valued at $1,243,309,000 after buying an additional 47,483,352 shares during the last quarter. Sanders Capital LLC increased its position in shares of Fifth Third Bancorp by 104.4% in the third quarter. Sanders Capital LLC now owns 13,180,022 shares of the financial services provider’s stock valued at $273,297,000 after buying an additional 6,732,200 shares during the last quarter. Norges Bank acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $161,313,000. Janus Capital Management LLC increased its position in shares of Fifth Third Bancorp by 622.7% in the first quarter. Janus Capital Management LLC now owns 6,555,529 shares of the financial services provider’s stock valued at $166,511,000 after buying an additional 5,648,401 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $142,516,000. 81.97% of the stock is owned by institutional investors and hedge funds.

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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