BidaskClub upgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other research analysts also recently commented on FITB. Sanford C. Bernstein reaffirmed a market perform rating and set a $31.00 price objective (up previously from $29.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 16th. Zacks Investment Research raised shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $31.00 price objective for the company in a research note on Monday, September 25th. Deutsche Bank reaffirmed a hold rating and set a $27.00 price objective (up previously from $24.00) on shares of Fifth Third Bancorp in a research note on Tuesday, September 26th. Nomura upped their price objective on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a neutral rating in a research note on Thursday, September 28th. Finally, Instinet reaffirmed a neutral rating and set a $29.00 price objective (up previously from $28.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 30th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company’s stock. Fifth Third Bancorp currently has an average rating of Hold and an average price target of $29.33.

Fifth Third Bancorp (FITB) opened at $32.35 on Friday. Fifth Third Bancorp has a one year low of $23.20 and a one year high of $32.36. The firm has a market cap of $22,830.00, a PE ratio of 12.21, a P/E/G ratio of 2.21 and a beta of 1.35. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company posted $0.65 EPS. equities analysts expect that Fifth Third Bancorp will post 1.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 24.15%.

In related news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the completion of the sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FITB. Stephens Inc. AR increased its position in Fifth Third Bancorp by 59.4% during the 2nd quarter. Stephens Inc. AR now owns 15,873 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 5,918 shares in the last quarter. Norinchukin Bank The boosted its holdings in Fifth Third Bancorp by 12.3% in the 2nd quarter. Norinchukin Bank The now owns 29,628 shares of the financial services provider’s stock worth $769,000 after acquiring an additional 3,252 shares during the period. Amalgamated Bank boosted its holdings in 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 acquiring an additional 31,048 shares during the period. Investment Centers of America Inc. boosted its holdings in Fifth Third Bancorp by 5.4% in the 2nd quarter. Investment Centers of America Inc. now owns 49,476 shares of the financial services provider’s stock worth $1,286,000 after acquiring an additional 2,557 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Fifth Third Bancorp by 0.3% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 346,050 shares of the financial services provider’s stock valued at $8,983,000 after buying an additional 1,100 shares during the last quarter. 83.86% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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