Fifth Third Bancorp (FITB) Given Consensus Rating of “Hold” by Analysts
Fifth Third Bancorp (NASDAQ:FITB) has been given a consensus recommendation of “Hold” by the twenty-six brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $28.03.
FITB has been the subject of a number of analyst reports. BidaskClub upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Wells Fargo & Company began coverage on shares of Fifth Third Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $27.00 price objective on the stock. Jefferies Group reissued a “hold” rating and issued a $28.00 price objective on shares of Fifth Third Bancorp in a research note on Friday, August 11th. Sanford C. Bernstein reissued a “market perform” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 16th. Finally, Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Monday, September 25th.
In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up $0.05 on Friday, reaching $30.51. The company’s stock had a trading volume of 7,991,300 shares, compared to its average volume of 5,727,205. The company has a market cap of $20,631.19, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 2.43 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. Fifth Third Bancorp has a 52-week low of $23.20 and a 52-week high of $31.11.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company earned $0.65 EPS. equities analysts forecast that Fifth Third Bancorp will post 1.79 earnings per share for the current fiscal year.
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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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