Fifth Third Bancorp (FITB) Lifted to B at TheStreet

Fifth Third Bancorp (NASDAQ:FITB) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a research report issued on Friday.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $26.50 price objective on shares of Fifth Third Bancorp in a research report on Friday, May 26th. BMO Capital Markets reissued a “hold” rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, April 25th. Robert W. Baird raised shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $24.00 price objective for the company in a research report on Monday, June 5th. Royal Bank Of Canada reissued a “buy” rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research report on Thursday, May 18th. Finally, Piper Jaffray Companies dropped their target price on shares of Fifth Third Bancorp from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, April 11th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $25.30.

Fifth Third Bancorp (FITB) traded up 1.53% during trading on Friday, hitting $25.20. The stock had a trading volume of 4,041,404 shares. The company has a 50-day moving average price of $24.57 and a 200-day moving average price of $25.89. The company has a market cap of $18.91 billion, a price-to-earnings ratio of 13.18 and a beta of 1.35. Fifth Third Bancorp has a 52-week low of $16.14 and a 52-week high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. Fifth Third Bancorp had a net margin of 22.64% and a return on equity of 10.12%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities research analysts forecast that Fifth Third Bancorp will post $1.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Wednesday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 29.17%.

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In related news, EVP Frank R. Forrest sold 13,321 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $24.63, for a total value of $328,096.23. Following the sale, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at approximately $1,768,261.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Teresa J. Tanner sold 54,984 shares of the stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $24.88, for a total transaction of $1,368,001.92. Following the completion of the sale, the chief accounting officer now directly owns 41,286 shares in the company, valued at $1,027,195.68. The disclosure for this sale can be found here. Insiders sold a total of 109,315 shares of company stock worth $2,716,947 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the company. Assetmark Inc. increased its position in shares of Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Fifth Third Bancorp by 7.1% in the first quarter. Quadrant Capital Group LLC now owns 5,581 shares of the financial services provider’s stock worth $138,000 after buying an additional 370 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in shares of Fifth Third Bancorp by 5.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider’s stock worth $142,000 after buying an additional 298 shares in the last quarter. Sterling Investment Advisors Ltd. increased its position in shares of Fifth Third Bancorp by 20.8% in the first quarter. Sterling Investment Advisors Ltd. now owns 5,800 shares of the financial services provider’s stock worth $147,000 after buying an additional 1,000 shares in the last quarter. Finally, Ullmann Financial Group Inc. bought a new position in shares of Fifth Third Bancorp during the first quarter worth approximately $167,000. 81.20% of the stock is currently owned by institutional investors.

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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