Fifth Third Bancorp (NASDAQ:FITB) gapped up before the market opened on Friday . The stock had previously closed at $28.17, but opened at $28.77. Fifth Third Bancorp shares last traded at $29.02, with a volume of 4922695 shares changing hands.

FITB has been the topic of several research reports. Wedbush raised shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $31.00 to $34.00 in a report on Tuesday, September 4th. They noted that the move was a valuation call. BMO Capital Markets decreased their price target on shares of Fifth Third Bancorp from $34.00 to $32.00 and set a “$29.19” rating on the stock in a report on Monday, July 23rd. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Monday, July 16th. Macquarie raised shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 22nd. Finally, Vining Sparks reaffirmed a “buy” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a report on Thursday, July 19th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $32.18.

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market capitalization of $19.29 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.60 and a beta of 1.25.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Thursday, July 19th. The financial services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. Fifth Third Bancorp had a net margin of 32.86% and a return on equity of 11.12%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company earned $0.45 EPS. equities research analysts expect that Fifth Third Bancorp will post 2.51 EPS for the current year.

Large investors have recently bought and sold shares of the stock. MUFG Americas Holdings Corp acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $103,000. Well Done LLC acquired a new position in shares of Fifth Third Bancorp in the 1st quarter worth approximately $114,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Fifth Third Bancorp by 8,368.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,933 shares during the period. Summit Trail Advisors LLC lifted its position in shares of Fifth Third Bancorp by 3,223.6% in the 1st quarter. Summit Trail Advisors LLC now owns 127,661 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 123,820 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter worth approximately $131,000. Institutional investors and hedge funds own 83.91% of the company’s stock.

Fifth Third Bancorp Company Profile (NASDAQ:FITB)

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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