Fifth Third Bancorp (FITB) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Fifth Third Bancorp (NASDAQ:FITB) from a hold rating to a sell rating in a report issued on Monday, February 4th.

Several other equities research analysts also recently commented on FITB. Vining Sparks reaffirmed a buy rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, January 22nd. Raymond James set a $30.00 price target on shares of Fifth Third Bancorp and gave the stock a buy rating in a report on Wednesday, January 23rd. Citigroup raised shares of Fifth Third Bancorp from a neutral rating to a buy rating and lowered their price target for the stock from $37.00 to $29.00 in a report on Wednesday, January 9th. Zacks Investment Research raised shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $28.00 price target on the stock in a report on Tuesday, January 8th. Finally, Barclays lowered their price target on shares of Fifth Third Bancorp from $35.00 to $31.00 and set an equal weight rating on the stock in a report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $31.13.

Shares of Fifth Third Bancorp stock traded down $0.01 during trading on Monday, reaching $27.57. 6,630,921 shares of the company traded hands, compared to its average volume of 4,870,833. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.97. Fifth Third Bancorp has a 1-year low of $22.12 and a 1-year high of $34.67. The company has a market capitalization of $18.25 billion, a PE ratio of 10.85, a PEG ratio of 1.31 and a beta of 1.32.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. During the same quarter in the prior year, the business posted $0.48 EPS. Sell-side analysts expect that Fifth Third Bancorp will post 2.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Thursday, March 28th. Fifth Third Bancorp’s payout ratio is 34.65%.

A number of hedge funds have recently made changes to their positions in the stock. JOYN Advisors Inc. lifted its position in Fifth Third Bancorp by 38.6% during the fourth quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after buying an additional 480 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of Fifth Third Bancorp by 82.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 487 shares in the last quarter. UMB Bank N A MO increased its holdings in shares of Fifth Third Bancorp by 3.0% during the fourth quarter. UMB Bank N A MO now owns 17,881 shares of the financial services provider’s stock valued at $421,000 after acquiring an additional 522 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Fifth Third Bancorp by 0.9% during the fourth quarter. M&T Bank Corp now owns 64,313 shares of the financial services provider’s stock valued at $1,513,000 after acquiring an additional 549 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its holdings in shares of Fifth Third Bancorp by 5.1% during the fourth quarter. Morningstar Investment Services LLC now owns 13,078 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 634 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

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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