Fifth Third Bancorp (FITB) Receives $30.50 Consensus PT from Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given an average recommendation of “Hold” by the twenty-six brokerages that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $30.50.

A number of analysts have recently issued reports on FITB shares. Royal Bank of Canada reiterated a “buy” rating on shares of Fifth Third Bancorp in a report on Sunday, December 10th. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Monday, January 8th. Macquarie lowered Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $28.47 to $26.00 in a research report on Friday, November 17th. BMO Capital Markets reissued a “hold” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research report on Friday, December 8th. Finally, BidaskClub raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 4,836 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $31.90, for a total value of $154,268.40. Following the transaction, the executive vice president now directly owns 112,474 shares of the company’s stock, valued at approximately $3,587,920.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Mark D. Hazel sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $32.81, for a total value of $246,075.00. Following the completion of the transaction, the senior vice president now directly owns 62,254 shares in the company, valued at $2,042,553.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,086 shares of company stock worth $3,951,344. 0.38% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sanders Capital LLC raised its position in shares of Fifth Third Bancorp by 1.1% in the 4th quarter. Sanders Capital LLC now owns 13,300,838 shares of the financial services provider’s stock valued at $428,100,000 after purchasing an additional 148,300 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of 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 valued at $206,228,000 after purchasing an additional 68,086 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Fifth Third Bancorp by 4.3% in the 4th quarter. Wells Fargo & Company MN now owns 6,281,010 shares of the financial services provider’s stock valued at $190,564,000 after purchasing an additional 256,235 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Fifth Third Bancorp by 3.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,083,708 shares of the financial services provider’s stock valued at $114,232,000 after purchasing an additional 118,177 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Fifth Third Bancorp by 1.8% in the 3rd quarter. Legal & General Group Plc now owns 3,942,017 shares of the financial services provider’s stock valued at $110,295,000 after purchasing an additional 71,404 shares in the last quarter. 84.01% of the stock is currently owned by institutional investors.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded down $0.07 during trading hours on Wednesday, hitting $33.13. The stock had a trading volume of 6,874,100 shares, compared to its average volume of 5,504,639. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.99. Fifth Third Bancorp has a 1-year low of $23.20 and a 1-year high of $33.91. The stock has a market cap of $22,985.76, a PE ratio of 18.00, a P/E/G ratio of 1.83 and a beta of 1.36.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business earned $0.49 EPS. research analysts expect that Fifth Third Bancorp will post 2.3 EPS for the current year.

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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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