Fifth Third Bancorp (NASDAQ:FITB) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) from a strong sell rating to a sell rating in a research report released on Saturday morning.

A number of other equities analysts have also recently issued reports on FITB. Morgan Stanley dropped their price objective on Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Wolfe Research dropped their price objective on Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Jefferies Financial Group boosted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Argus boosted their price objective on Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Finally, Weiss Ratings upgraded Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $56.41.

Get Our Latest Analysis on FITB

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $50.34 on Friday. The firm has a market capitalization of $45.59 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 1.02 and a beta of 0.95. Fifth Third Bancorp has a 1 year low of $32.79 and a 1 year high of $55.44. The business has a 50 day simple moving average of $48.65 and a 200-day simple moving average of $46.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.87. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%.The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the previous year, the business earned $0.71 EPS. Equities analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp’s payout ratio is presently 45.20%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FITB. Cullen Frost Bankers Inc. grew its stake in Fifth Third Bancorp by 4.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock worth $199,000 after buying an additional 187 shares during the last quarter. Equitable Holdings Inc. grew its stake in Fifth Third Bancorp by 4.1% during the 4th quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock worth $232,000 after buying an additional 195 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in Fifth Third Bancorp by 3.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after buying an additional 206 shares during the last quarter. Keybank National Association OH grew its stake in Fifth Third Bancorp by 0.3% during the 4th quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after buying an additional 214 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its stake in Fifth Third Bancorp by 1.9% during the 4th quarter. CreativeOne Wealth LLC now owns 11,652 shares of the financial services provider’s stock worth $545,000 after buying an additional 216 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Key Fifth Third Bancorp News

Here are the key news stories impacting Fifth Third Bancorp this week:

About Fifth Third Bancorp

(Get Free Report)

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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