Fifth Third Bancorp (NASDAQ:FITB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.

FITB has been the topic of several other reports. Robert W. Baird downgraded Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research report on Monday, October 2nd. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, October 11th. BMO Capital Markets reissued a “hold” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a research report on Friday, December 8th. Oppenheimer reissued a “hold” rating on shares of Fifth Third Bancorp in a research report on Thursday, December 7th. Finally, Nomura upped their target price on Fifth Third Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $29.23.

Fifth Third Bancorp (NASDAQ FITB) traded up $0.08 during midday trading on Friday, hitting $30.71. The company had a trading volume of 6,210,000 shares, compared to its average volume of 6,490,000. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89. Fifth Third Bancorp has a 52-week low of $23.20 and a 52-week high of $31.83. The firm has a market cap of $21,720.00, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 2.22 and a beta of 1.35.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results 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. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the firm earned $0.65 EPS. sell-side analysts predict that Fifth Third Bancorp will post 1.79 earnings per share for the current year.

In other news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction dated 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 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 SEC, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Horan Capital Advisors LLC. purchased a new position in Fifth Third Bancorp in the 3rd quarter valued at about $102,000. Valeo Financial Advisors LLC purchased a new position in Fifth Third Bancorp in the 3rd quarter valued at about $119,000. Sun Life Financial INC lifted its stake in Fifth Third Bancorp by 55,050.0% in the 2nd 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. HighPoint Advisor Group LLC purchased a new position in Fifth Third Bancorp in the 3rd quarter valued at about $202,000. Finally, Regentatlantic Capital LLC purchased a new position in Fifth Third Bancorp in the 3rd quarter valued at about $205,000. 83.84% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: “Fifth Third Bancorp (FITB) Downgraded by BidaskClub to Hold” was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was stolen and reposted in violation of international trademark & copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2018/01/06/fifth-third-bancorp-fitb-downgraded-by-bidaskclub-to-hold.html.

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)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.