Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “buy” rating reissued by research analysts at Royal Bank Of Canada in a research note issued to investors on Sunday.

Several other analysts have also issued reports on FITB. BidaskClub lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Sanford C. Bernstein reiterated a “market perform” rating and set a $31.00 target price (up previously from $29.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 16th. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, September 25th. Deutsche Bank reiterated a “hold” rating and set a $27.00 target price (up previously from $24.00) on shares of Fifth Third Bancorp in a research note on Tuesday, September 26th. Finally, Nomura increased their target price on Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $28.23.

Fifth Third Bancorp (FITB) traded down $0.03 during trading hours on Friday, reaching $30.37. The company’s stock had a trading volume of 10,185,776 shares, compared to its average volume of 5,655,349. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $21,428.50, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 2.53 and a beta of 1.35. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $31.83.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. During the same quarter in the prior year, the company earned $0.65 earnings per share. equities research analysts forecast that Fifth Third Bancorp will post 1.79 earnings per share for the current fiscal year.

In related news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

Large investors have recently modified their holdings of the stock. Prudential Financial Inc. grew its position in Fifth Third Bancorp by 1.5% during the second quarter. Prudential Financial Inc. now owns 2,234,087 shares of the financial services provider’s stock worth $57,997,000 after buying an additional 33,660 shares in the last quarter. Principal Financial Group Inc. grew its position in Fifth Third Bancorp by 4.9% during the second quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock worth $38,232,000 after buying an additional 68,859 shares in the last quarter. Capital Fund Management S.A. grew its position in Fifth Third Bancorp by 69.8% during the second quarter. Capital Fund Management S.A. now owns 321,226 shares of the financial services provider’s stock worth $8,339,000 after buying an additional 132,047 shares in the last quarter. Amalgamated Bank grew its position in Fifth Third Bancorp by 58.0% during the second quarter. Amalgamated Bank now owns 84,592 shares of the financial services provider’s stock worth $2,196,000 after buying an additional 31,048 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in Fifth Third Bancorp by 27.6% during the second quarter. Alps Advisors Inc. now owns 13,773 shares of the financial services provider’s stock worth $358,000 after buying an additional 2,983 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors and hedge funds.

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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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