Fifth Third Bancorp (FITB) Given Average Rating of “Hold” by Brokerages

Fifth Third Bancorp (NASDAQ:FITB) has earned a consensus recommendation of “Hold” from the twenty-six ratings firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.50.

Several analysts recently commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $35.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, January 24th. BMO Capital Markets reiterated a “hold” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, January 24th. Morgan Stanley upped their target price on Fifth Third Bancorp from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. BidaskClub upgraded Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Finally, Vining Sparks reiterated a “buy” rating and issued a $35.00 target price on shares of Fifth Third Bancorp in a report on Sunday, January 28th.

In other Fifth Third Bancorp news, SVP Mark D. Hazel sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $32.81, for a total value of $246,075.00. Following the transaction, the senior vice president now directly owns 62,254 shares of the company’s stock, valued at $2,042,553.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Frank R. Forrest sold 4,836 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $31.90, for a total value of $154,268.40. Following the completion of the transaction, the executive vice president now directly owns 112,474 shares in the company, valued at $3,587,920.60. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Altrinsic Global Advisors LLC raised its position in shares of Fifth Third Bancorp by 6.3% during the fourth quarter. Altrinsic Global Advisors LLC now owns 26,581 shares of the financial services provider’s stock worth $806,000 after purchasing an additional 1,581 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Fifth Third Bancorp by 40.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,007 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 1,737 shares during the period. Creative Planning raised its position in shares of Fifth Third Bancorp by 2.1% during the fourth quarter. Creative Planning now owns 88,715 shares of the financial services provider’s stock worth $2,692,000 after purchasing an additional 1,793 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in shares of Fifth Third Bancorp by 1.6% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 123,778 shares of the financial services provider’s stock worth $3,463,000 after purchasing an additional 1,900 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Fifth Third Bancorp by 5.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,241 shares of the financial services provider’s stock worth $1,126,000 after purchasing an additional 1,910 shares during the period. 84.41% of the stock is currently owned by institutional investors.

Shares of Fifth Third Bancorp (FITB) opened at $32.39 on Wednesday. Fifth Third Bancorp has a twelve month low of $23.20 and a twelve month high of $33.91. The company has a market capitalization of $22,850.00, a P/E ratio of 11.36, a P/E/G ratio of 2.11 and a beta of 1.36. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a return on equity of 9.65% and a net margin of 27.08%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business posted $0.49 earnings per share. equities analysts predict that Fifth Third Bancorp will post 2.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 22.46%.

TRADEMARK VIOLATION WARNING: “Fifth Third Bancorp (FITB) Given Average Rating of “Hold” by Brokerages” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/14/fifth-third-bancorp-fitb-given-average-rating-of-hold-by-brokerages.html.

About Fifth Third Bancorp

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.

Leave a Reply