Macquarie cut shares of Fifth Third Bancorp (NASDAQ:FITB) from a neutral rating to an underperform rating in a research note released on Friday morning, Marketbeat Ratings reports. Macquarie currently has $26.00 price objective on the financial services provider’s stock, down from their previous price objective of $28.47.

A number of other research analysts have also recently issued reports on FITB. BidaskClub cut shares of Fifth Third Bancorp from a buy rating to a hold rating in a report on Saturday, August 12th. Nomura raised their price target on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a neutral rating in a report on Thursday, September 28th. Robert W. Baird cut shares of Fifth Third Bancorp from a neutral rating to an underperform rating and set a $24.00 price target for the company. in a report on Monday, October 2nd. Zacks Investment Research cut shares of Fifth Third Bancorp from a buy rating to a hold rating in a report on Tuesday, September 26th. Finally, Wells Fargo & Company initiated coverage on shares of Fifth Third Bancorp in a report on Wednesday, August 9th. They set a market perform rating and a $27.00 target price for the company. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the company. Fifth Third Bancorp has an average rating of Hold and a consensus price target of $28.23.

Fifth Third Bancorp (FITB) opened at $28.48 on Friday. The stock has a market cap of $20,140.00, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 2.37 and a beta of 1.34. Fifth Third Bancorp has a fifty-two week low of $23.20 and a fifty-two week high of $29.39. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.48. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.65 earnings per share. sell-side analysts expect that Fifth Third Bancorp will post 1.79 EPS for the current year.

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In other news, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the sale, the executive vice president now owns 154,577 shares in the company, valued at $4,461,092.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Fifth Third Bancorp by 1.1% during the second quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after acquiring an additional 639,361 shares during the last quarter. Sanders Capital LLC boosted its position in Fifth Third Bancorp by 1.7% during the third quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after acquiring an additional 224,800 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Fifth Third Bancorp by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after acquiring an additional 431,863 shares during the last quarter. Janus Henderson Group PLC boosted its position in Fifth Third Bancorp by 7,461.4% during the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after acquiring an additional 7,511,357 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Fifth Third Bancorp by 3.0% during the third quarter. Russell Investments Group Ltd. now owns 4,083,708 shares of the financial services provider’s stock worth $114,232,000 after acquiring an additional 118,177 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

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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