Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a research report issued on Friday. They currently have a $28.00 price target on the financial services provider’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 7.24% from the stock’s current price.

FITB has been the subject of several other reports. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 22nd. BidaskClub upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Morgan Stanley restated an “equal weight” rating and set a $28.00 price target (up from $26.00) on shares of Fifth Third Bancorp in a report on Thursday, July 6th. Deutsche Bank AG restated a “hold” rating on shares of Fifth Third Bancorp in a report on Monday, July 3rd. Finally, Instinet raised their price target on Fifth Third Bancorp from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company. Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $26.54.

Fifth Third Bancorp (NASDAQ FITB) traded down 1.02% during trading on Friday, reaching $26.11. 4,345,297 shares of the company’s stock were exchanged. The stock has a market cap of $19.24 billion, a PE ratio of 13.23 and a beta of 1.37. Fifth Third Bancorp has a 12 month low of $18.95 and a 12 month high of $28.97. The firm has a 50 day moving average of $26.26 and a 200-day moving average of $25.73.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Fifth Third Bancorp had a return on equity of 10.44% and a net margin of 21.83%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the company earned $0.40 earnings per share. The company’s revenue was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Fifth Third Bancorp will post $1.82 earnings per share for the current fiscal year.

Fifth Third Bancorp declared that its board has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.16 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 67% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. boosted its position in Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its position in 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 worth $142,000 after buying an additional 298 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its position in 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 worth $147,000 after buying an additional 1,000 shares during the last quarter. Ullmann Financial Group Inc. bought a new position in Fifth Third Bancorp during the first quarter worth $167,000. Finally, Duncker Streett & Co. Inc. boosted its position in 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 worth $168,000 after buying an additional 17 shares during the last quarter. 80.50% of the stock is currently owned by hedge funds and other 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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