Fifth Third Bancorp (NASDAQ:FITB) – Stock analysts at Wedbush upped their Q1 2018 earnings estimates for shares of Fifth Third Bancorp in a research report issued on Wednesday, according to Zacks Investment Research. Wedbush analyst P. Winter now anticipates that the financial services provider will earn $0.46 per share for the quarter, up from their previous forecast of $0.45. Wedbush also issued estimates for Fifth Third Bancorp’s Q2 2018 earnings at $0.49 EPS and FY2018 earnings at $2.08 EPS.
Several other research analysts also recently commented on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fifth Third Bancorp in a research note on Saturday, July 22nd. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Thursday, July 27th. Royal Bank of Canada lifted their target price 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 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $28.00 target price (up from $27.00) on shares of Fifth Third Bancorp in a research note on Tuesday, July 25th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $31.00 price objective (up from $29.00) on shares of Fifth Third Bancorp in a research report on Saturday, September 16th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $28.33.
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Fifth Third Bancorp (NASDAQ FITB) opened at $27.67 on Thursday. The company has a market cap of $19,523.43, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. Fifth Third Bancorp has a one year low of $23.20 and a one year high of $29.39. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same period last year, the firm posted $0.65 earnings per share.
Institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its holdings in 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 acquiring an additional 33,660 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in Fifth Third Bancorp in the 1st quarter worth approximately $303,000. Cornerstone Advisors Inc. increased its holdings in Fifth Third Bancorp by 14.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 847 shares in the last quarter. Principal Financial Group Inc. increased its holdings in 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 acquiring an additional 68,859 shares in the last quarter. Finally, Capital Fund Management S.A. increased its holdings in 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 acquiring an additional 132,047 shares in the last quarter. 82.72% of the stock is owned by institutional investors.
In other news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frank R. Forrest sold 7,004 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $26.21, for a total transaction of $183,574.84. Following the sale, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at approximately $1,881,694.53. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a $0.16 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.64 dividend on an annualized basis and a yield of 2.31%. Fifth Third Bancorp’s payout ratio is 23.97%.
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.
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