Fifth Third Bancorp (FITB) Upgraded at BidaskClub

BidaskClub upgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from a strong sell rating to a sell rating in a report issued on Friday.

Several other equities analysts have also issued reports on the company. Wedbush set a $34.00 price target on Fifth Third Bancorp and gave the company a buy rating in a research note on Thursday, September 20th. Morgan Stanley cut their price target on Fifth Third Bancorp from $35.50 to $33.00 and set an equal weight rating on the stock in a research note on Tuesday, September 18th. ValuEngine lowered Fifth Third Bancorp from a hold rating to a sell rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered Fifth Third Bancorp from a buy rating to a hold rating in a research note on Tuesday, July 24th. Finally, BMO Capital Markets cut their price target on Fifth Third Bancorp from $34.00 to $32.00 and set a $29.19 rating on the stock in a research note on Monday, July 23rd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $32.59.

Shares of FITB opened at $28.27 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Fifth Third Bancorp has a 12-month low of $27.38 and a 12-month high of $34.67. The firm has a market cap of $18.65 billion, a PE ratio of 10.55, a PEG ratio of 1.55 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. Fifth Third Bancorp had a return on equity of 11.12% and a net margin of 32.86%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Research analysts anticipate that Fifth Third Bancorp will post 2.51 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.72 annualized dividend and a dividend yield of 2.55%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 26.87%.

Several institutional investors have recently made changes to their positions in FITB. BlackRock Inc. increased its holdings in shares of Fifth Third Bancorp by 5.9% in the second quarter. BlackRock Inc. now owns 48,455,130 shares of the financial services provider’s stock worth $1,390,661,000 after acquiring an additional 2,718,504 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Fifth Third Bancorp by 119.9% in the second quarter. Janus Henderson Group PLC now owns 4,875,534 shares of the financial services provider’s stock worth $139,929,000 after acquiring an additional 2,658,672 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Fifth Third Bancorp by 106.3% in the second quarter. Schroder Investment Management Group now owns 4,166,562 shares of the financial services provider’s stock worth $119,747,000 after acquiring an additional 2,146,656 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Fifth Third Bancorp by 658.6% in the second quarter. Millennium Management LLC now owns 1,622,956 shares of the financial services provider’s stock worth $46,579,000 after acquiring an additional 1,409,021 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Fifth Third Bancorp by 16.9% in the second quarter. Wells Fargo & Company MN now owns 7,362,392 shares of the financial services provider’s stock worth $211,301,000 after acquiring an additional 1,062,218 shares in the last quarter. Institutional investors own 83.91% of the company’s stock.

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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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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