Sandler O’Neill upgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from a hold rating to a buy rating in a research report sent to investors on Friday, Marketbeat Ratings reports.

Other research analysts have also recently issued research reports about the company. Stephens raised Fifth Third Bancorp from an equal weight rating to an overweight rating in a research report on Thursday, December 20th. BidaskClub cut Fifth Third Bancorp from a hold rating to a sell rating in a research report on Thursday, December 13th. Citigroup raised Fifth Third Bancorp from a neutral rating to a buy rating and cut their price objective for the stock from $37.00 to $29.00 in a research report on Wednesday, January 9th. Wedbush reissued an outperform rating on shares of Fifth Third Bancorp in a research report on Thursday, March 14th. Finally, ValuEngine raised Fifth Third Bancorp from a sell rating to a hold rating in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $31.27.

FITB stock opened at $24.42 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.88. Fifth Third Bancorp has a 1-year low of $22.12 and a 1-year high of $34.67. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Fifth Third Bancorp had a return on equity of 12.34% and a net margin of 27.32%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, research analysts predict that Fifth Third Bancorp will post 2.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.22 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.88 annualized dividend and a dividend yield of 3.60%. Fifth Third Bancorp’s payout ratio is presently 34.65%.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 26,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $26.37, for a total value of $685,620.00. Following the sale, the executive vice president now directly owns 62,974 shares in the company, valued at $1,660,624.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FITB. SRS Capital Advisors Inc. raised its stake in shares of Fifth Third Bancorp by 82.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 487 shares during the period. JOYN Advisors Inc. raised its stake in shares of Fifth Third Bancorp by 38.6% during the 4th quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 480 shares during the period. Executive Wealth Management LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $69,000. Oregon Public Employees Retirement Fund raised its stake in shares of Fifth Third Bancorp by 2,225.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,765,315 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 1,689,396 shares during the period. Finally, Lindbrook Capital LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $75,000. Institutional investors own 83.59% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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