Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “hold” rating reiterated by equities researchers at Piper Jaffray Companies in a note issued to investors on Tuesday. They currently have a $27.00 target price on the financial services provider’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 5.03% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price objective (up from $27.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $27.50 price objective on shares of Fifth Third Bancorp in a report on Friday, July 14th. BidaskClub downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Morgan Stanley reissued an “equal weight” rating and issued a $28.00 price objective (up from $26.00) on shares of Fifth Third Bancorp in a report on Thursday, July 6th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Fifth Third Bancorp in a report on Monday, July 3rd. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $28.08.

Fifth Third Bancorp (NASDAQ FITB) traded up 0.60% during trading on Tuesday, reaching $28.60. 7,729,919 shares of the company’s stock were exchanged. The stock has a market capitalization of $21.07 billion, a PE ratio of 14.50 and a beta of 1.37. The stock has a 50-day moving average of $27.36 and a 200-day moving average of $25.93. Fifth Third Bancorp has a 52 week low of $20.83 and a 52 week high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.87. Fifth Third Bancorp had a return on equity of 10.44% and a net margin of 21.83%. During the same period in the prior year, the company earned $0.65 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post $1.83 EPS for the current year.

Fifth Third Bancorp declared that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $1.16 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 67% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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In other news, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $26.21, for a total value of $183,574.84. Following the completion of the transaction, the executive vice president now owns 71,793 shares in the company, valued at $1,881,694.53. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.38% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Sun Life Financial INC increased its position in shares of Fifth Third Bancorp by 55,050.0% in the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock valued at $143,000 after buying an additional 5,505 shares in the last quarter. Sterling Investment Advisors Ltd. increased its position 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 in the last quarter. Ullmann Financial Group Inc. purchased a new position in shares of Fifth Third Bancorp in the first quarter valued at $167,000. Duncker Streett & Co. Inc. increased its position 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 in the last quarter. Finally, Cornerstone Advisors Inc. increased its position in shares of Fifth Third Bancorp by 14.2% in the second quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock valued at $177,000 after buying an additional 847 shares in the last quarter. Institutional investors and hedge funds own 79.55% of the company’s stock.

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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