Royal Bank of Canada reiterated their buy rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research note issued to investors on Sunday.

A number of other analysts have also commented on FITB. Oppenheimer reaffirmed a hold rating on shares of Fifth Third Bancorp in a research report on Thursday, December 7th. BidaskClub lowered Fifth Third Bancorp from a buy rating to a hold rating in a research report on Saturday, August 12th. Nomura boosted their target price on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a neutral rating in a research report on Thursday, September 28th. Robert W. Baird lowered Fifth Third Bancorp from a neutral rating to an underperform rating and set a $24.00 target price for the company. in a research report on Monday, October 2nd. Finally, Zacks Investment Research lowered Fifth Third Bancorp from a buy rating to a hold rating in a research report on Tuesday, September 26th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the stock. Fifth Third Bancorp presently has an average rating of Hold and a consensus target price of $28.38.

Shares of Fifth Third Bancorp (NASDAQ FITB) opened at $30.45 on Friday. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $31.83. The company has a market capitalization of $21,428.50, a PE ratio of 16.87, a P/E/G ratio of 2.53 and a beta of 1.35. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. Fifth Third Bancorp had a return on equity of 26.34% and a net margin of 40.06%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company posted $0.65 EPS. equities analysts anticipate that Fifth Third Bancorp will post 1.79 earnings per share for the current fiscal year.

In other news, EVP Timothy Spence sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the transaction, the executive vice president now owns 154,577 shares in the company, valued at approximately $4,461,092.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. raised its holdings in shares of Fifth Third Bancorp by 1.5% in the 2nd quarter. Prudential Financial Inc. now owns 2,234,087 shares of the financial services provider’s stock worth $57,997,000 after purchasing an additional 33,660 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Fifth Third Bancorp by 4.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock worth $38,232,000 after purchasing an additional 68,859 shares during the period. Capital Fund Management S.A. raised its holdings in shares of Fifth Third Bancorp by 69.8% in the 2nd quarter. Capital Fund Management S.A. now owns 321,226 shares of the financial services provider’s stock worth $8,339,000 after purchasing an additional 132,047 shares during the period. Amalgamated Bank raised its holdings in shares of Fifth Third Bancorp by 58.0% in the 2nd quarter. Amalgamated Bank now owns 84,592 shares of the financial services provider’s stock worth $2,196,000 after purchasing an additional 31,048 shares during the period. Finally, Alps Advisors Inc. raised its holdings in shares of Fifth Third Bancorp by 27.6% in the 2nd quarter. Alps Advisors Inc. now owns 13,773 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 2,983 shares during the period. Hedge funds and other institutional investors own 83.97% of the company’s stock.

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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.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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