Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given an average rating of “Hold” by the twenty-five analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $31.97.
Several equities research analysts recently weighed in on the company. BidaskClub downgraded Fifth Third Bancorp from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Nomura raised their price objective on Fifth Third Bancorp from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, April 25th. ValuEngine downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. FIG Partners downgraded Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Macquarie raised Fifth Third Bancorp from an “underperform” rating to a “neutral” rating in a report on Tuesday.
In other news, Director Emerson L. Brumback sold 3,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $33.44, for a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 53,143 shares of the company’s stock, valued at approximately $1,777,101.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Mark D. Hazel sold 19,324 shares of Fifth Third Bancorp stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $33.37, for a total value of $644,841.88. Following the completion of the transaction, the senior vice president now directly owns 57,459 shares of the company’s stock, valued at $1,917,406.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,892 shares of company stock valued at $898,783. Corporate insiders own 0.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of FITB. Icon Wealth Partners LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $101,000. Delpha Capital Management LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $107,000. Well Done LLC bought a new position in shares of Fifth Third Bancorp in the 1st quarter worth about $114,000. Summit Trail Advisors LLC raised its position in shares of Fifth Third Bancorp by 3,223.6% in the 1st quarter. Summit Trail Advisors LLC now owns 127,661 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 123,820 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $148,000. 82.29% of the stock is owned by hedge funds and other institutional investors.
Fifth Third Bancorp opened at $31.76 on Friday, according to Marketbeat. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.89. Fifth Third Bancorp has a twelve month low of $23.20 and a twelve month high of $34.67. The firm has a market cap of $21.39 billion, a P/E ratio of 11.85, a PEG ratio of 1.62 and a beta of 1.31.
Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.49. Fifth Third Bancorp had a return on equity of 10.45% and a net margin of 30.14%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $0.38 EPS. Fifth Third Bancorp’s revenue for the quarter was up 5.2% on a year-over-year basis. analysts forecast that Fifth Third Bancorp will post 2.45 earnings per share for the current fiscal year.
Fifth Third Bancorp declared that its board has authorized a stock buyback program on Tuesday, February 27th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Fifth Third Bancorp Company Profile
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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