Fifth Third Bancorp (FITB) Receives “Hold” Rating from BMO Capital Markets
Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “hold” rating reiterated by BMO Capital Markets in a research note issued to investors on Friday. They currently have a $32.00 price target on the financial services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 5.37% from the stock’s previous close.
Several other equities research analysts also recently commented on FITB. Jefferies Group reiterated a “hold” rating and issued a $28.00 price objective on shares of Fifth Third Bancorp in a report on Friday, August 11th. BidaskClub downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Sanford C. Bernstein restated a “market perform” rating and set a $31.00 price target (up 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 price target for the company in a research note on Monday, September 25th. Finally, Deutsche Bank restated a “hold” rating and set a $27.00 price target (up from $24.00) on shares of Fifth Third Bancorp in a research note on Tuesday, September 26th. Four investment 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.38.
Fifth Third Bancorp (NASDAQ FITB) traded down $0.03 during midday trading on Friday, reaching $30.37. The company had a trading volume of 10,860,100 shares, compared to its average volume of 5,797,399. Fifth Third Bancorp has a 52 week low of $23.20 and a 52 week high of $31.83. The company has a market cap of $21,428.50, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 2.53 and a beta of 1.35. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89.
In related news, EVP Timothy Spence sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the transaction, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hellman Jordan Management Co. Inc. MA purchased a new position in Fifth Third Bancorp in the 3rd quarter worth approximately $614,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Fifth Third Bancorp by 0.9% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock worth $206,228,000 after acquiring an additional 68,086 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Fifth Third Bancorp by 4.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 353,364 shares of the financial services provider’s stock worth $9,887,000 after acquiring an additional 13,855 shares in the last quarter. Truepoint Inc. purchased a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $211,000. Finally, Opus Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 181.5% during the 3rd quarter. Opus Investment Management Inc. now owns 36,600 shares of the financial services provider’s stock worth $1,024,000 after acquiring an additional 23,600 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors.
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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.
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