Fifth Third Bancorp’s (FITB) “Buy” Rating Reaffirmed at Royal Bank Of Canada
Several other analysts have also issued reports on the company. Oppenheimer reiterated a hold rating on shares of Fifth Third Bancorp in a report on Thursday. Macquarie lowered Fifth Third Bancorp from a neutral rating to an underperform rating and dropped their price objective for the company from $28.47 to $26.00 in a research note on Friday, November 17th. Zacks Investment Research lowered Fifth Third Bancorp from a buy rating to a hold rating in a research note on Friday, October 27th. Nomura upped their price objective on Fifth Third Bancorp from $29.00 to $30.00 and gave the company a neutral rating in a research note on Thursday, October 26th. Finally, Bank of America upped their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a neutral rating in a research note on Wednesday, October 25th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the stock. Fifth Third Bancorp presently has a consensus rating of Hold and a consensus target price of $28.23.
Fifth Third Bancorp (FITB) traded down $0.03 on Friday, reaching $30.37. The company had a trading volume of 10,860,100 shares, compared to its average volume of 5,797,399. Fifth Third Bancorp has a fifty-two week low of $23.20 and a fifty-two week high of $31.83. The company has a market capitalization of $21,428.50, a price-to-earnings ratio of 16.87, a PEG ratio of 2.53 and a beta of 1.35. 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 released its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. equities research analysts anticipate that Fifth Third Bancorp will post 1.79 earnings per share for the current year.
In related news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.
Large investors have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its holdings in shares of 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 valued at $197,608,000 after purchasing an additional 7,511,357 shares in the last quarter. Balyasny Asset Management LLC boosted its holdings in shares of Fifth Third Bancorp by 265.3% in the 2nd quarter. Balyasny Asset Management LLC now owns 3,821,186 shares of the financial services provider’s stock valued at $99,198,000 after purchasing an additional 2,775,259 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Fifth Third Bancorp by 97.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,382,624 shares of the financial services provider’s stock valued at $87,813,000 after purchasing an additional 1,670,055 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $1,502,604,000 after purchasing an additional 639,361 shares in the last quarter. Finally, ALGEBRIS UK Ltd acquired a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at $15,812,000. 83.97% of the stock is currently owned by institutional investors and hedge funds.
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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.
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