Analysts at Wedbush initiated coverage on shares of Fifth Third Bancorp (NASDAQ:FITB) in a note issued to investors on Thursday. The firm set a “neutral” rating on the financial services provider’s stock.

A number of other research firms have also weighed in on FITB. Evercore ISI lowered shares of Fifth Third Bancorp to a “hold” rating and set a $18.00 price target for the company. in a research report on Friday, July 15th. Stephens lowered shares of Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Deutsche Bank AG reiterated a “hold” rating on shares of Fifth Third Bancorp in a research report on Wednesday, June 15th. Credit Suisse Group AG reiterated a “sell” rating on shares of Fifth Third Bancorp in a research report on Tuesday, July 12th. Finally, Oppenheimer Holdings Inc. lowered shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $20.59.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB) remained flat at $20.74 during trading on Thursday. 5,597,356 shares of the company’s stock traded hands. The firm has a market capitalization of $15.89 billion, a PE ratio of 10.10 and a beta of 1.33. The firm’s 50 day moving average is $20.18 and its 200 day moving average is $18.57. Fifth Third Bancorp has a one year low of $13.84 and a one year high of $21.14.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a net margin of 23.36% and a return on equity of 9.25%. During the same period last year, the company earned $0.36 earnings per share. On average, equities research analysts forecast that Fifth Third Bancorp will post $1.60 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 28th. Fifth Third Bancorp’s payout ratio is 25.49%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Global X Management Co. LLC boosted its position in shares of Fifth Third Bancorp by 117.7% in the second quarter. Global X Management Co. LLC now owns 6,234 shares of the financial services provider’s stock valued at $110,000 after buying an additional 3,371 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Fifth Third Bancorp during the first quarter valued at about $112,000. Advisory Services Network LLC boosted its position in shares of Fifth Third Bancorp by 153.2% in the second quarter. Advisory Services Network LLC now owns 6,375 shares of the financial services provider’s stock valued at $112,000 after buying an additional 3,857 shares during the last quarter. Duncker Streett & Co. Inc. boosted its position in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock valued at $113,000 after buying an additional 20 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Fifth Third Bancorp during the first quarter valued at about $178,000. Institutional investors own 79.73% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

5 Day Chart for NASDAQ:FITB

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