Analysts Set Fifth Third Bancorp (FITB) Target Price at $28.03

Fifth Third Bancorp (NASDAQ:FITB) has been assigned an average recommendation of “Hold” from the twenty-six ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $28.03.

Several research firms have weighed in on FITB. Macquarie downgraded Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $28.47 to $26.00 in a research note on Friday, November 17th. Zacks Investment Research downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Nomura upped their price target on Fifth Third Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Bank of America upped their price target on Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Royal Bank Of Canada upped their price target on Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th.

In other 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 completion of the transaction, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of FITB. Strs Ohio lifted its position in Fifth Third Bancorp by 10.8% in the second quarter. Strs Ohio now owns 95,406 shares of the financial services provider’s stock worth $2,476,000 after buying an additional 9,312 shares during the last quarter. IBM Retirement Fund lifted its position in Fifth Third Bancorp by 115.5% in the second quarter. IBM Retirement Fund now owns 18,368 shares of the financial services provider’s stock worth $533,000 after buying an additional 9,846 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Fifth Third Bancorp by 5.8% in the second quarter. Janney Montgomery Scott LLC now owns 30,114 shares of the financial services provider’s stock worth $782,000 after buying an additional 1,646 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Fifth Third Bancorp by 33.9% in the second quarter. Great West Life Assurance Co. Can now owns 825,256 shares of the financial services provider’s stock worth $21,408,000 after buying an additional 208,963 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Fifth Third Bancorp by 1.3% in the second quarter. CIBC Asset Management Inc now owns 83,462 shares of the financial services provider’s stock worth $2,167,000 after purchasing an additional 1,062 shares during the period. Institutional investors own 83.97% of the company’s stock.

Fifth Third Bancorp (NASDAQ:FITB) traded up $0.67 during trading on Friday, reaching $31.36. 7,291,798 shares of the company traded hands, compared to its average volume of 5,741,470. The stock has a market cap of $21,654.29, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 2.55 and a beta of 1.35. Fifth Third Bancorp has a one year low of $23.20 and a one year high of $31.83. 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 Thomson Reuters’ consensus estimate of $0.48. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same period in the prior year, the firm posted $0.65 EPS. analysts predict that Fifth Third Bancorp will post 1.79 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece was reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.com-unik.info/2017/12/04/analysts-set-fifth-third-bancorp-fitb-target-price-at-28-03.html.

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.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

What are top analysts saying about Fifth Third Bancorp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Fifth Third Bancorp and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit