Fifth Third Bancorp (NASDAQ:FITB) was downgraded by equities researchers at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday. They currently have a $26.00 target price on the financial services provider’s stock, up from their prior target price of $23.00. Sanford C. Bernstein’s price objective indicates a potential upside of 2.24% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other research firms have also commented on FITB. Robert W. Baird lowered shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $19.00 to $21.00 in a report on Wednesday. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Fifth Third Bancorp in a report on Thursday, October 20th. Jefferies Group restated a “hold” rating on shares of Fifth Third Bancorp in a report on Monday, October 24th. Credit Agricole SA boosted their price target on shares of Fifth Third Bancorp from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. Finally, Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 7th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.66.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB) opened at 25.43 on Wednesday. The company’s 50-day moving average is $21.62 and its 200-day moving average is $19.52. Fifth Third Bancorp has a 12 month low of $13.84 and a 12 month high of $25.68. The company has a market cap of $19.22 billion, a P/E ratio of 11.28 and a beta of 1.20.

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

Large investors have recently modified their holdings of the stock. Fragasso Group Inc. boosted its stake in shares of Fifth Third Bancorp by 2.1% in the second quarter. Fragasso Group Inc. now owns 56,866 shares of the financial services provider’s stock worth $1,000,000 after buying an additional 1,148 shares during the period. Banced Corp boosted its stake in shares of Fifth Third Bancorp by 0.7% in the second quarter. Banced Corp now owns 18,101 shares of the financial services provider’s stock worth $342,000 after buying an additional 117 shares during the period. Atria Investments LLC acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth approximately $179,000. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Fifth Third Bancorp by 4.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 198,724 shares of the financial services provider’s stock worth $3,496,000 after buying an additional 8,026 shares during the period. Finally, DNB Asset Management AS boosted its stake in shares of Fifth Third Bancorp by 2.0% in the second quarter. DNB Asset Management AS now owns 66,433 shares of the financial services provider’s stock worth $1,169,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds 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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