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

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “sell” rating reissued by investment analysts at Robert W. Baird in a note issued to investors on Wednesday, January 3rd. They currently have a $29.00 price objective on the financial services provider’s stock. Robert W. Baird’s target price points to a potential downside of 13.04% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Barclays raised their target price on Fifth Third Bancorp from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. BidaskClub raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Morgan Stanley raised their target price on Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. BMO Capital Markets reissued a “hold” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a research report on Friday, December 8th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Fifth Third Bancorp in a research report on Sunday, December 10th. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the company. Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $30.70.

Fifth Third Bancorp (NASDAQ FITB) traded up $0.51 during midday trading on Wednesday, reaching $33.35. The company had a trading volume of 3,339,474 shares, compared to its average volume of 5,890,000. Fifth Third Bancorp has a 52 week low of $23.20 and a 52 week high of $33.51. The company has a market cap of $23,900.00, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.35. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.90 and a quick ratio of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a return on equity of 9.65% and a net margin of 27.08%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $0.49 EPS. equities research analysts anticipate that Fifth Third Bancorp will post 2.24 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Fifth Third Bancorp by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after purchasing an additional 639,361 shares in the last quarter. Sanders Capital LLC lifted its holdings in Fifth Third Bancorp by 1.7% in the 3rd quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after purchasing an additional 224,800 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Fifth Third Bancorp by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after purchasing an additional 431,863 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Fifth Third Bancorp by 7,461.4% in the 2nd quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after purchasing an additional 7,511,357 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Fifth Third Bancorp by 0.9% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock worth $206,228,000 after purchasing an additional 68,086 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

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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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