BMO Capital Markets reiterated their hold rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research note released on Thursday morning. BMO Capital Markets currently has a $29.00 price objective on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Fifth Third Bancorp from a c+ rating to a b rating in a research note on Friday, June 23rd. BidaskClub raised shares of Fifth Third Bancorp from a hold rating to a buy rating in a research note on Saturday, August 5th. Zacks Investment Research raised shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $29.00 price objective for the company in a research note on Thursday, July 27th. Morgan Stanley reaffirmed 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. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Fifth Third Bancorp in a research note on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $27.92.

Shares of Fifth Third Bancorp (FITB) traded down 0.11% during midday trading on Thursday, hitting $28.19. 3,483,241 shares of the company’s stock were exchanged. Fifth Third Bancorp has a one year low of $19.57 and a one year high of $28.97. The stock’s 50-day moving average price is $26.79 and its 200 day moving average price is $25.68. The firm has a market cap of $20.77 billion, a PE ratio of 14.29 and a beta of 1.37.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Fifth Third Bancorp will post $1.83 EPS for the current year.

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Fifth Third Bancorp announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.16 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 67% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $0.16 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, September 28th. This represents a $0.64 annualized dividend and a yield of 2.27%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 32.49%.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 7,004 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $26.21, for a total value of $183,574.84. Following the completion of the sale, the executive vice president now owns 71,793 shares of the company’s stock, valued at $1,881,694.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of FITB. Sun Life Financial INC grew its position in Fifth Third Bancorp by 55,050.0% in the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 5,505 shares in the last quarter. Sterling Investment Advisors Ltd. grew its position in 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 valued at $147,000 after acquiring an additional 1,000 shares in the last quarter. Ullmann Financial Group Inc. acquired a new stake in Fifth Third Bancorp in the first quarter valued at approximately $167,000. Duncker Streett & Co. Inc. grew its position in Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 17 shares in the last quarter. Finally, Cornerstone Advisors Inc. grew its position in Fifth Third Bancorp by 14.2% in the second quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 847 shares in the last quarter. 79.58% of the stock is owned by institutional investors.

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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