Fifth Third Bancorp (FITB) Downgraded by BidaskClub to Hold

Fifth Third Bancorp (NASDAQ:FITB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, March 12th. Sandler O’Neill raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Raymond James set a $30.00 target price on shares of Fifth Third Bancorp and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Vining Sparks reaffirmed a “buy” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, January 22nd. Finally, Jefferies Financial Group raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.67.

Fifth Third Bancorp stock traded up $0.30 during trading hours on Tuesday, reaching $27.38. The stock had a trading volume of 7,171,200 shares, compared to its average volume of 7,519,564. The firm has a market cap of $18.18 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $34.67. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84.



Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.67 billion. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. During the same quarter last year, the firm earned $0.57 EPS. As a group, sell-side analysts expect that Fifth Third Bancorp will post 2.77 earnings per share for the current fiscal year.

In related news, EVP Frank R. Forrest sold 26,000 shares of Fifth Third Bancorp stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $26.37, for a total transaction of $685,620.00. Following the completion of the transaction, the executive vice president now directly owns 62,974 shares of the company’s stock, valued at approximately $1,660,624.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Teresa J. Tanner sold 2,918 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $28.75, for a total transaction of $83,892.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,727 shares of company stock valued at $2,302,901. 0.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Fifth Third Bancorp by 16.9% during the 1st quarter. BlackRock Inc. now owns 50,942,882 shares of the financial services provider’s stock valued at $1,284,778,000 after acquiring an additional 7,355,944 shares during the period. Sanders Capital LLC raised its holdings in Fifth Third Bancorp by 3.3% in the first quarter. Sanders Capital LLC now owns 18,398,085 shares of the financial services provider’s stock worth $518,001,000 after buying an additional 579,200 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Fifth Third Bancorp by 76.0% in the first quarter. Dimensional Fund Advisors LP now owns 16,903,360 shares of the financial services provider’s stock worth $426,325,000 after buying an additional 7,301,720 shares during the last quarter. Northern Trust Corp raised its holdings in Fifth Third Bancorp by 15.4% in the first quarter. Northern Trust Corp now owns 10,637,146 shares of the financial services provider’s stock worth $268,268,000 after buying an additional 1,416,806 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Fifth Third Bancorp by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 9,475,947 shares of the financial services provider’s stock worth $222,615,000 after buying an additional 574,887 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

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.

Read More: What is the Fibonacci sequence?

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.