Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Fifth Third Bancorp (FITB) Share Price
Press coverage about Fifth Third Bancorp (NASDAQ:FITB) has been trending somewhat positive this week, according to Accern. The research firm identifies positive and negative press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Fifth Third Bancorp earned a media sentiment score of 0.21 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 46.8906578877774 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s analysis:
- Why Are Regional Banks Victims Of The Current Market? – Seeking Alpha (seekingalpha.com)
- Banking Stocks on Investors’ Radar — Fifth Third Bancorp, First Midwest Bancorp, Wintrust Financial, and Associated … – Markets Insider (markets.businessinsider.com)
- Fifth Third Bancorp (FITB)- Critical Performance Analysis under Limelight – NASDAQ Times (nasdaqtimes.com)
- Fifth Third Bancorp (FITB) Moving -1.01% in Session – Sparta Review (spartareview.com)
- Afam Capital, Inc. Marginally Raises Its Holdings in Fifth Third Bancorp (FITB) Stock – Modern Readers (modernreaders.com)
Shares of Fifth Third Bancorp (NASDAQ FITB) traded up 0.27% during mid-day trading on Friday, hitting $26.33. 8,551,131 shares of the stock were exchanged. The company has a market cap of $19.40 billion, a P/E ratio of 13.35 and a beta of 1.37. Fifth Third Bancorp has a 52-week low of $19.34 and a 52-week high of $28.97. The stock’s 50-day moving average price is $26.46 and its 200-day moving average price is $25.73.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. Equities research analysts anticipate that Fifth Third Bancorp will post $1.82 earnings per share for the current fiscal year.
Fifth Third Bancorp declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $1.16 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 67% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
A number of brokerages recently weighed in on FITB. Zacks Investment Research downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird upgraded shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $24.00 price objective on the stock in a research report on Monday, June 5th. BidaskClub downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Jefferies Group LLC restated a “hold” rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research report on Friday, July 14th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fifth Third Bancorp in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have assigned a buy rating to the company. Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $26.54.
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.
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