Fifth Third Bancorp (NASDAQ:FITB) was downgraded by equities research analysts at Nomura from a “neutral” rating to a “reduce” rating in a research report issued to clients and investors on Monday.

A number of other research firms have also commented on FITB. Evercore ISI lowered Fifth Third Bancorp to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Friday, July 15th. Stephens downgraded Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 5th. Wedbush began coverage on Fifth Third Bancorp in a report on Thursday. They issued a “neutral” rating and a $22.00 target price for the company. Deutsche Bank AG reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Wednesday, June 15th. Finally, Credit Suisse Group AG reiterated a “sell” rating on shares of Fifth Third Bancorp in a report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $20.64.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB) opened at 20.69 on Monday. Fifth Third Bancorp has a 52-week low of $13.84 and a 52-week high of $21.14. The firm’s 50-day moving average price is $20.25 and its 200-day moving average price is $18.61. The firm has a market cap of $15.86 billion, a P/E ratio of 10.08 and a beta of 1.33.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors 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 dividend on an annualized basis and a yield of 2.51%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 25.49%.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Fifth Third Bancorp by 1.2% in the second quarter. Vanguard Group Inc. now owns 52,424,683 shares of the financial services provider’s stock worth $922,150,000 after buying an additional 616,449 shares during the period. Boston Partners boosted its stake in shares of Fifth Third Bancorp by 1.5% in the second quarter. Boston Partners now owns 38,019,223 shares of the financial services provider’s stock worth $668,757,000 after buying an additional 578,456 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Fifth Third Bancorp by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 20,366,757 shares of the financial services provider’s stock worth $339,921,000 after buying an additional 81,851 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Fifth Third Bancorp by 53.2% in the second quarter. Ameriprise Financial Inc. now owns 13,362,943 shares of the financial services provider’s stock worth $235,080,000 after buying an additional 4,642,322 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Fifth Third Bancorp by 18.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,452,880 shares of the financial services provider’s stock worth $166,247,000 after buying an additional 1,468,444 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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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