Fifth Third Bancorp (NASDAQ:FITB) Receives Average Recommendation of “Hold” from Brokerages

Fifth Third Bancorp (NASDAQ:FITB) has been assigned a consensus recommendation of “Hold” from the twenty-one analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $31.54.

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Fifth Third Bancorp from $32.00 to $30.50 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Bank of America boosted their price objective on shares of Fifth Third Bancorp from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley lowered their price objective on shares of Fifth Third Bancorp from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. BidaskClub downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Deutsche Bank raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Friday, October 25th.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 5,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $27.52, for a total value of $137,600.00. Following the completion of the sale, the executive vice president now directly owns 152,672 shares in the company, valued at $4,201,533.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Philip Mchugh sold 36,382 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $30.56, for a total transaction of $1,111,833.92. 0.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanders Capital LLC lifted its stake in Fifth Third Bancorp by 3.6% in the second quarter. Sanders Capital LLC now owns 19,052,485 shares of the financial services provider’s stock valued at $592,818,000 after acquiring an additional 654,400 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Fifth Third Bancorp by 5.0% in the second quarter. JPMorgan Chase & Co. now owns 17,423,254 shares of the financial services provider’s stock valued at $475,481,000 after acquiring an additional 832,897 shares during the last quarter. Boston Partners lifted its stake in shares of Fifth Third Bancorp by 4.1% in the third quarter. Boston Partners now owns 11,098,097 shares of the financial services provider’s stock worth $303,962,000 after buying an additional 442,099 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Fifth Third Bancorp by 36.8% in the second quarter. Wells Fargo & Company MN now owns 7,491,535 shares of the financial services provider’s stock worth $209,013,000 after buying an additional 2,014,379 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Fifth Third Bancorp by 21,301.1% in the second quarter. Nuveen Asset Management LLC now owns 6,318,040 shares of the financial services provider’s stock worth $176,274,000 after buying an additional 6,288,518 shares during the last quarter. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Shares of Fifth Third Bancorp stock traded up $0.18 during trading on Wednesday, hitting $29.67. The stock had a trading volume of 4,206,400 shares, compared to its average volume of 6,297,218. The stock has a 50 day simple moving average of $29.46 and a 200 day simple moving average of $27.82. The company has a market capitalization of $21.42 billion, a PE ratio of 11.68, a P/E/G ratio of 1.50 and a beta of 1.40. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Fifth Third Bancorp has a 1 year low of $22.12 and a 1 year high of $30.89.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. Fifth Third Bancorp had a net margin of 24.36% and a return on equity of 11.40%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, equities analysts expect that Fifth Third Bancorp will post 2.81 earnings per share for the current fiscal year.

About Fifth Third Bancorp

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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