Jefferies Group LLC reiterated their hold rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a report published on Friday. They currently have a $28.00 price objective on the financial services provider’s stock.

A number of other research firms have also commented on FITB. Deutsche Bank AG restated a hold rating on shares of Fifth Third Bancorp in a research note on Monday, July 3rd. Morgan Stanley restated an equal weight rating and set a $28.00 price objective (up previously from $26.00) on shares of Fifth Third Bancorp in a research note on Thursday, July 6th. Hilliard Lyons upgraded Fifth Third Bancorp from an underperform rating to a neutral rating and set a $27.00 price objective on the stock in a research note on Monday, March 20th. Instinet raised their price objective on Fifth Third Bancorp from $27.00 to $28.00 and gave the stock a neutral rating in a research note on Friday, June 30th. Finally, BMO Capital Markets restated a hold rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Fifth Third Bancorp has a consensus rating of Hold and a consensus price target of $26.24.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded down 1.30% during mid-day trading on Friday, reaching $25.82. The company had a trading volume of 5,344,245 shares. The stock has a market capitalization of $19.37 billion, a P/E ratio of 13.50 and a beta of 1.36. The firm’s 50 day moving average is $24.66 and its 200-day moving average is $25.83. Fifth Third Bancorp has a 12-month low of $18.16 and a 12-month high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. Fifth Third Bancorp had a return on equity of 10.12% and a net margin of 22.64%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $0.40 EPS. On average, analysts expect that Fifth Third Bancorp will post $1.79 earnings per share for the current fiscal year.

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Fifth Third Bancorp declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $1.16 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 67% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 29.17%.

In other news, EVP Frank R. Forrest sold 13,321 shares of Fifth Third Bancorp stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $24.63, for a total value of $328,096.23. Following the completion of the transaction, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at approximately $1,768,261.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James C. Leonard sold 15,000 shares of Fifth Third Bancorp stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $24.88, for a total value of $373,200.00. Following the completion of the transaction, the executive vice president now directly owns 75,927 shares of the company’s stock, valued at $1,889,063.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,315 shares of company stock valued at $2,716,947. Corporate insiders own 0.38% of the company’s stock.

A number of hedge funds have recently modified their holdings of FITB. Assetmark Inc. raised its stake in shares of Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Fifth Third Bancorp by 7.1% in the first quarter. Quadrant Capital Group LLC now owns 5,581 shares of the financial services provider’s stock worth $138,000 after buying an additional 370 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of Fifth Third Bancorp by 5.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider’s stock worth $142,000 after buying an additional 298 shares during the last quarter. Sterling Investment Advisors Ltd. raised its stake in shares of Fifth Third Bancorp by 20.8% in the first quarter. Sterling Investment Advisors Ltd. now owns 5,800 shares of the financial services provider’s stock worth $147,000 after buying an additional 1,000 shares during the last quarter. Finally, Ullmann Financial Group Inc. purchased a new stake in shares of Fifth Third Bancorp during the first quarter worth approximately $167,000. 80.47% of the stock is owned by institutional investors and hedge funds.

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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