BidaskClub cut shares of Fifth Third Bancorp (NASDAQ:FITB) from a sell rating to a strong sell rating in a report issued on Saturday morning, BidAskClub reports.

Several other equities analysts also recently commented on FITB. Bank of America boosted their price target on shares of Fifth Third Bancorp from $30.00 to $31.00 and gave the stock a buy rating in a research note on Wednesday, October 23rd. Raymond James boosted their price target on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an outperform rating in a research note on Wednesday, October 23rd. Citigroup dropped their price target on shares of Fifth Third Bancorp from $30.00 to $27.00 and set a neutral rating for the company in a research note on Wednesday, October 9th. Barclays upgraded shares of Fifth Third Bancorp from an equal weight rating to an overweight rating and set a $38.00 price target for the company in a research note on Monday, January 6th. Finally, Deutsche Bank upgraded shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $31.00 target price for the company in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $31.70.

NASDAQ:FITB opened at $29.02 on Friday. The company has a fifty day simple moving average of $30.37 and a two-hundred day simple moving average of $28.57. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.40. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Fifth Third Bancorp has a 52 week low of $24.17 and a 52 week high of $31.64.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. Fifth Third Bancorp had a net margin of 24.36% and a return on equity of 11.40%. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, analysts expect that Fifth Third Bancorp will post 2.8 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.31%. Fifth Third Bancorp’s payout ratio is currently 37.80%.

In related news, EVP Frank R. Forrest sold 7,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.53, for a total transaction of $228,975.00. Following the completion of the transaction, the executive vice president now owns 55,474 shares in the company, valued at $1,693,621.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Philip Mchugh sold 36,382 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $30.56, for a total transaction of $1,111,833.92. Insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FITB. FMR LLC boosted its stake in Fifth Third Bancorp by 4.2% in the first quarter. FMR LLC now owns 815,594 shares of the financial services provider’s stock valued at $20,569,000 after acquiring an additional 32,680 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Fifth Third Bancorp by 10.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 563,358 shares of the financial services provider’s stock valued at $14,209,000 after acquiring an additional 55,145 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Fifth Third Bancorp by 278.2% in the second quarter. Renaissance Technologies LLC now owns 454,739 shares of the financial services provider’s stock valued at $12,687,000 after acquiring an additional 334,500 shares in the last quarter. AXA boosted its stake in Fifth Third Bancorp by 34.5% in the second quarter. AXA now owns 113,063 shares of the financial services provider’s stock valued at $3,154,000 after acquiring an additional 28,976 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Fifth Third Bancorp by 51.1% in the second quarter. Private Advisor Group LLC now owns 13,699 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 4,633 shares in the last quarter. Institutional investors own 78.68% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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