Robert W. Baird downgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from a neutral rating to an underperform rating in a report released on Wednesday morning. They currently have $21.00 price objective on the financial services provider’s stock, up from their prior price objective of $19.00.

A number of other equities analysts have also issued reports on the company. Jefferies Group restated a hold rating on shares of Fifth Third Bancorp in a research note on Monday, October 24th. Oppenheimer Holdings Inc. reaffirmed a hold rating on shares of Fifth Third Bancorp in a research report on Thursday, October 20th. Nomura downgraded Fifth Third Bancorp from a neutral rating to a reduce rating in a research report on Monday, October 10th. Zacks Investment Research downgraded Fifth Third Bancorp from a buy rating to a hold rating in a research report on Friday, October 7th. Finally, Wedbush initiated coverage on Fifth Third Bancorp in a research report on Thursday, October 6th. They set a neutral rating and a $22.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $20.66.

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up 1.386% during trading on Wednesday, hitting $25.245. The stock had a trading volume of 3,603,162 shares. The firm has a market cap of $19075.48 billion, a P/E ratio of 11.270 and a beta of 1.20. The firm has a 50 day moving average price of $21.49 and a 200 day moving average price of $19.48. Fifth Third Bancorp has a 12-month low of $13.84 and a 12-month high of $25.68.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, October 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.24. Fifth Third Bancorp had a return on equity of 10.00% and a net margin of 24.69%. During the same period last year, the business posted $0.45 earnings per share. On average, equities analysts expect that Fifth Third Bancorp will post $1.88 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC increased its stake 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 in the last quarter. Virtus Investment Advisers Inc. purchased a new stake in shares of Fifth Third Bancorp during the third quarter valued at $128,000. Advisory Services Network LLC increased its stake 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 in the last quarter. Duncker Streett & Co. Inc. increased its stake 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 in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in shares of Fifth Third Bancorp by 3,759.8% in the third quarter. Cornerstone Advisors Inc. now owns 6,909 shares of the financial services provider’s stock valued at $141,000 after buying an additional 6,730 shares in the last quarter. Hedge funds and other institutional investors own 82.26% 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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