Jefferies Group cut shares of Fifth Third Bancorp (NASDAQ:FITB) from a buy rating to a hold rating in a report released on Friday morning. Jefferies Group currently has $22.00 target price on the financial services provider’s stock, up from their prior target price of $19.50. The analysts noted that the move was a valuation call.

Other equities analysts have also issued reports about the stock. Rafferty Capital Markets upgraded shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $24.00 target price on the stock in a report on Friday, September 16th. Compass Point raised shares of Fifth Third Bancorp from a neutral rating to a buy rating and set a $23.20 price target on the stock in a research note on Wednesday, September 14th. Zacks Investment Research raised shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $23.00 price target on the stock in a research note on Tuesday, October 4th. Barclays PLC reissued an equal weight rating and issued a $21.00 price target on shares of Fifth Third Bancorp in a research note on Sunday, July 10th. Finally, Morgan Stanley downgraded shares of Fifth Third Bancorp from an overweight rating to an equal weight rating and reduced their price target for the company from $21.00 to $20.00 in a research note on Tuesday, July 5th. Two investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $20.64.

Fifth Third Bancorp (NASDAQ:FITB) traded up 0.121% during trading on Friday, hitting $20.715. 2,693,483 shares of the stock were exchanged. The stock has a market cap of $15.88 billion, a P/E ratio of 10.090 and a beta of 1.33. The stock’s 50 day moving average price is $20.25 and its 200 day moving average price is $18.61. Fifth Third Bancorp has a 12 month low of $13.84 and a 12 month high of $21.14.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, beating the 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 business posted $0.36 EPS. Analysts forecast that Fifth Third Bancorp will post $1.60 EPS for the current fiscal 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. The ex-dividend date is Wednesday, September 28th. This represents a $0.52 annualized dividend and a yield of 2.51%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 25.49%.

A number of institutional investors have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. increased its position in Fifth Third Bancorp by 0.3% in the second quarter. Deprince Race & Zollo Inc. now owns 3,024,678 shares of the financial services provider’s stock valued at $53,204,000 after buying an additional 8,448 shares during the period. Geode Capital Management LLC increased its position in Fifth Third Bancorp by 0.6% in the first quarter. Geode Capital Management LLC now owns 6,981,349 shares of the financial services provider’s stock valued at $116,300,000 after buying an additional 44,688 shares during the period. Endeavour Capital Advisors Inc. increased its position in Fifth Third Bancorp by 2.8% in the first quarter. Endeavour Capital Advisors Inc. now owns 1,768,468 shares of the financial services provider’s stock valued at $29,516,000 after buying an additional 48,253 shares during the period. National Pension Service increased its position in Fifth Third Bancorp by 4.5% in the first quarter. National Pension Service now owns 501,999 shares of the financial services provider’s stock valued at $8,378,000 after buying an additional 21,808 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in Fifth Third Bancorp during the first quarter valued at $1,130,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

About Fifth Third Bancorp

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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