Several brokerages have updated their recommendations and price targets on shares of Fifth Third Bancorp (NASDAQ: FITB) in the last few weeks:

  • 10/2/2017 – Fifth Third Bancorp was downgraded by analysts at Robert W. Baird from a “neutral” rating to an “underperform” rating. They now have a $24.00 price target on the stock.
  • 9/30/2017 – Fifth Third Bancorp had its “neutral” rating reaffirmed by analysts at Instinet. They now have a $29.00 price target on the stock, up previously from $28.00.
  • 9/28/2017 – Fifth Third Bancorp had its price target raised by analysts at Nomura from $28.00 to $29.00. They now have a “neutral” rating on the stock.
  • 9/26/2017 – Fifth Third Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Fifth Third have outperformed the industry over the past six months. The performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company’s ongoing strategic efforts, such as Project North Star, will likely boost its efficiency and revenue over the long run. Also, margin pressure seems to be easing gradually, given the Fed interest rate hikes and improving economic backdrop. Fifth Third’s growing deposits base look encouraging. However, elevated expenses on the company’s branch digitization initiative and legal issues remain a concern.”
  • 9/26/2017 – Fifth Third Bancorp had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $27.00 price target on the stock, up previously from $24.00.
  • 9/25/2017 – Fifth Third Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $31.00 price target on the stock. According to Zacks, “Shares of Fifth Third have outperformed the industry over the past six months. The performance was supported by the company’s impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. The company’s ongoing strategic efforts, such as Project North Star, will likely boost its efficiency and revenue over the long run. Also, margin pressure seems to be easing gradually, given the Fed interest rate hikes and improving economic backdrop. Though, elevated expenses on the company’s branch digitization initiative and legal issues remain a concern, Fifth Third’s growing deposits base look encouraging.”
  • 9/16/2017 – Fifth Third Bancorp had its “market perform” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $31.00 price target on the stock, up previously from $29.00.
  • 8/12/2017 – Fifth Third Bancorp was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/11/2017 – Fifth Third Bancorp had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $28.00 price target on the stock.
  • 8/9/2017 – Fifth Third Bancorp is now covered by analysts at Wells Fargo & Company. They set a “market perform” rating and a $27.00 price target on the stock.
  • 8/5/2017 – Fifth Third Bancorp was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded up 0.14% during trading on Tuesday, hitting $27.91. The stock had a trading volume of 3,477,881 shares. The stock’s 50 day moving average is $26.64 and its 200 day moving average is $25.62. The stock has a market capitalization of $20.56 billion, a price-to-earnings ratio of 14.15 and a beta of 1.37. Fifth Third Bancorp has a 52 week low of $19.57 and a 52 week high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data 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 net margin of 21.83% and a return on equity of 10.44%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company posted $0.40 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Fifth Third Bancorp will post $1.83 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.29%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, September 28th. Fifth Third Bancorp’s dividend payout ratio is presently 32.49%.

In other news, EVP Frank R. Forrest sold 7,004 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $26.21, for a total transaction of $183,574.84. Following the sale, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at $1,881,694.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

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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