Fifth Third Bancorp (NASDAQ:FITB) had its price target cut by research analysts at Morgan Stanley from $35.50 to $33.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 11.79% from the company’s previous close.

FITB has been the topic of a number of other reports. BidaskClub lowered shares of Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. Argus started coverage on shares of Fifth Third Bancorp in a report on Thursday, June 14th. They set a “buy” rating and a $36.00 price objective on the stock. FIG Partners lowered shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday, May 21st. Finally, UBS Group upgraded shares of Fifth Third Bancorp from a “sell” rating to a “neutral” rating and set a $26.00 price objective on the stock in a report on Friday, July 20th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $32.11.

Shares of NASDAQ:FITB opened at $29.52 on Tuesday. Fifth Third Bancorp has a 12 month low of $26.94 and a 12 month high of $34.67. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market cap of $19.39 billion, a P/E ratio of 11.01, a P/E/G ratio of 1.61 and a beta of 1.25.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.61 billion. During the same period last year, the business posted $0.45 earnings per share. research analysts predict that Fifth Third Bancorp will post 2.51 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Well Done LLC acquired a new stake in Fifth Third Bancorp in the 1st quarter valued at $114,000. MUFG Americas Holdings Corp acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at $103,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in 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 valued at $114,000 after buying an additional 3,933 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at $131,000. Finally, First Mercantile Trust Co. acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at $149,000. Hedge funds and other institutional investors own 83.87% 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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