StockNews.com Lowers Fifth Third Bancorp (NASDAQ:FITB) to Sell

Fifth Third Bancorp (NASDAQ:FITB) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

FITB has been the subject of a number of other research reports. Morgan Stanley raised their price objective on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Raymond James began coverage on shares of Fifth Third Bancorp in a research note on Thursday, August 24th. They issued a “market perform” rating for the company. Citigroup reaffirmed a “neutral” rating and issued a $31.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, September 18th. Bank of America raised their price objective on shares of Fifth Third Bancorp from $30.00 to $33.00 in a research note on Monday, July 24th. Finally, Royal Bank of Canada decreased their price objective on shares of Fifth Third Bancorp from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.03.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded up $0.11 during trading hours on Monday, reaching $27.67. 3,803,171 shares of the company’s stock were exchanged, compared to its average volume of 6,760,172. The company has a market capitalization of $18.84 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.23. Fifth Third Bancorp has a 12 month low of $22.11 and a 12 month high of $38.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business’s 50-day simple moving average is $25.26 and its two-hundred day simple moving average is $26.02.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.09. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Fifth Third Bancorp had a net margin of 21.20% and a return on equity of 16.99%. During the same period last year, the firm posted $0.93 earnings per share. Sell-side analysts expect that Fifth Third Bancorp will post 3.51 EPS for the current fiscal year.

Insider Activity

In other Fifth Third Bancorp news, Director C. Bryan Daniels purchased 64,500 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were acquired at an average price of $23.31 per share, for a total transaction of $1,503,495.00. Following the acquisition, the director now owns 325,278 shares of the company’s stock, valued at $7,582,230.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Asset Allocation Strategies LLC raised its holdings in Fifth Third Bancorp by 6.9% in the 3rd quarter. Asset Allocation Strategies LLC now owns 11,280 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 725 shares during the period. Creative Planning lifted its position in Fifth Third Bancorp by 1.1% during the 3rd quarter. Creative Planning now owns 161,200 shares of the financial services provider’s stock worth $4,083,000 after acquiring an additional 1,823 shares during the last quarter. Ironwood Investment Management LLC lifted its position in Fifth Third Bancorp by 10.0% during the 3rd quarter. Ironwood Investment Management LLC now owns 27,398 shares of the financial services provider’s stock worth $694,000 after acquiring an additional 2,500 shares during the last quarter. Tudor Investment Corp Et Al acquired a new position in Fifth Third Bancorp during the 3rd quarter worth $1,888,000. Finally, Advisors Capital Management LLC lifted its position in Fifth Third Bancorp by 6.1% during the 3rd quarter. Advisors Capital Management LLC now owns 464,133 shares of the financial services provider’s stock worth $11,756,000 after acquiring an additional 26,514 shares during the last quarter. Institutional investors own 77.96% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. 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.