Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “hold” rating restated by equities research analysts at Oppenheimer Holdings, Inc. in a report released on Saturday.

Several other analysts also recently issued reports on FITB. Compass Point raised shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 29th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and issued a $28.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, April 4th. Piper Jaffray Companies reduced their price target on shares of Fifth Third Bancorp from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, April 11th. BMO Capital Markets reissued a “hold” rating and issued a $28.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $28.00 price target on shares of Fifth Third Bancorp in a research report on Thursday, May 18th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have given a buy rating to the company. Fifth Third Bancorp presently has an average rating of “Hold” and an average target price of $26.24.

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up 2.71% during mid-day trading on Friday, hitting $26.18. 9,418,838 shares of the stock were exchanged. Fifth Third Bancorp has a 12-month low of $18.16 and a 12-month high of $28.97. The stock’s 50 day moving average price is $25.41 and its 200-day moving average price is $25.73. The stock has a market capitalization of $19.34 billion, a P/E ratio of 13.27 and a beta of 1.37.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Fifth Third Bancorp had a net margin of 22.64% and a return on equity of 10.12%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $0.40 EPS. Fifth Third Bancorp’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Fifth Third Bancorp will post $1.79 EPS for the current fiscal year.

Fifth Third Bancorp announced that its board has approved a share buyback program on Wednesday, June 28th that allows the company to buyback $1.16 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 67% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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In other news, CAO Teresa J. Tanner sold 26,010 shares of Fifth Third Bancorp stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $24.90, for a total transaction of $647,649.00. Following the sale, the chief accounting officer now directly owns 41,286 shares in the company, valued at approximately $1,028,021.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James C. Leonard sold 15,000 shares of Fifth Third Bancorp stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $24.88, for a total value of $373,200.00. Following the completion of the sale, the executive vice president now directly owns 75,927 shares of the company’s stock, valued at approximately $1,889,063.76. The disclosure for this sale can be found here. Insiders have sold a total of 109,315 shares of company stock worth $2,716,947 over the last quarter. Company insiders own 0.38% of the company’s stock.

A number of large investors have recently made changes to their positions in FITB. Assetmark Inc. raised its stake in shares of Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock valued at $121,000 after buying an additional 32 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Fifth Third Bancorp by 7.1% in the first quarter. Quadrant Capital Group LLC now owns 5,581 shares of the financial services provider’s stock valued at $138,000 after buying an additional 370 shares during the period. Sterling Investment Advisors Ltd. raised its stake in shares of Fifth Third Bancorp by 20.8% in the first quarter. Sterling Investment Advisors Ltd. now owns 5,800 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,000 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of Fifth Third Bancorp by 5.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider’s stock valued at $142,000 after buying an additional 298 shares during the period. Finally, Duncker Streett & Co. Inc. raised its stake in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock valued at $168,000 after buying an additional 17 shares during the period. 80.47% of the stock is owned by institutional investors.

Fifth Third Bancorp Company Profile

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.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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