Fifth Third Bancorp (NASDAQ:FITB) Stock Rating Reaffirmed by Robert W. Baird

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “sell” rating reaffirmed by analysts at Robert W. Baird in a research note issued to investors on Wednesday, January 3rd. They presently have a $29.00 price target on the financial services provider’s stock. Robert W. Baird’s price objective indicates a potential downside of 10.36% from the stock’s current price.

A number of other brokerages have also recently commented on FITB. Zacks Investment Research cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. UBS Group reaffirmed a “sell” rating and set a $26.00 price target (up previously from $25.00) on shares of Fifth Third Bancorp in a research report on Friday, October 6th. Bank of America boosted their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Piper Jaffray Companies reiterated a “hold” rating and set a $27.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, October 24th. Finally, Morgan Stanley boosted their price objective on Fifth Third Bancorp from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company. Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $29.33.

Shares of Fifth Third Bancorp (FITB) traded up $0.49 during midday trading on Wednesday, hitting $32.35. The stock had a trading volume of 4,346,404 shares, compared to its average volume of 5,199,168. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $32.36. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $22,479.82, a PE ratio of 12.12, a PEG ratio of 2.18 and a beta of 1.35.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. research analysts forecast that Fifth Third Bancorp will post 1.78 earnings per share for the current fiscal year.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the transaction, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Fifth Third Bancorp by 5.0% during the 2nd quarter. Victory Capital Management Inc. now owns 208,006 shares of the financial services provider’s stock valued at $5,400,000 after purchasing an additional 9,863 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Fifth Third Bancorp by 1.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 38,331 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 612 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Fifth Third Bancorp by 4.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock valued at $38,232,000 after purchasing an additional 68,859 shares during the last quarter. Commerce Bank increased its position in shares of Fifth Third Bancorp by 1.0% during the 2nd quarter. Commerce Bank now owns 16,552 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 166 shares during the last quarter. Finally, Fiduciary Trust Co. increased its position in shares of Fifth Third Bancorp by 71.3% during the 2nd quarter. Fiduciary Trust Co. now owns 152,023 shares of the financial services provider’s stock valued at $3,947,000 after purchasing an additional 63,294 shares during the last quarter. Institutional investors and hedge funds own 83.84% of the company’s stock.

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About Fifth Third Bancorp

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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