Fifth Third Bancorp’s (FITB) Sell Rating Reaffirmed at Robert W. Baird
Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “sell” rating restated by investment analysts at Robert W. Baird in a research report issued on Wednesday. They presently have a $29.00 price objective on the financial services provider’s stock. Robert W. Baird’s price target indicates a potential downside of 4.70% from the company’s current price.
A number of other brokerages have also issued reports on FITB. Nomura raised their price target 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. Barclays raised their price target on Fifth Third Bancorp from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Zacks Investment Research lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Instinet reissued a “neutral” rating and issued a $29.00 price target (up from $28.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 30th. Finally, Deutsche Bank reissued a “hold” rating and issued 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, eighteen have issued a hold rating and three have assigned a buy rating to the company. Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $29.23.
Fifth Third Bancorp (NASDAQ FITB) traded up $0.09 during trading on Wednesday, reaching $30.43. The company’s stock had a trading volume of 8,378,700 shares, compared to its average volume of 5,865,150. Fifth Third Bancorp has a 12 month low of $23.20 and a 12 month high of $31.83. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $21,470.00, a P/E ratio of 11.48, a P/E/G ratio of 2.22 and a beta of 1.35.
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 transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Horan Capital Advisors LLC. purchased a new stake in Fifth Third Bancorp during the 3rd quarter worth approximately $102,000. Global X Management Co. LLC increased its holdings in Fifth Third Bancorp by 117.7% during the 2nd quarter. Global X Management Co. LLC now owns 6,234 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 3,371 shares during the last quarter. Brick & Kyle Associates increased its holdings in shares of Fifth Third Bancorp by 46.1% in the 1st quarter. Brick & Kyle Associates now owns 6,660 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 2,100 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at approximately $112,000. Finally, Advisory Services Network LLC increased its holdings in shares of Fifth Third Bancorp by 153.2% in the 2nd quarter. Advisory Services Network LLC now owns 6,375 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 3,857 shares during the last quarter. 83.84% of the stock is currently owned by hedge funds and other 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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