Fifth Third Bancorp (FITB) Downgraded by BidaskClub to Hold
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.
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.
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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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