Fifth Third Bancorp (NASDAQ:FITB) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday.
Several other research analysts also recently commented on FITB. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 16th. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Monday, September 25th. Deutsche Bank reaffirmed a “hold” rating and issued a $27.00 price objective (up previously from $24.00) on shares of Fifth Third Bancorp in a research note on Tuesday, September 26th. Nomura raised their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. Finally, Instinet reaffirmed a “neutral” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 30th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the company’s stock. Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $28.68.
Fifth Third Bancorp (FITB) opened at $30.03 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. Fifth Third Bancorp has a 12 month low of $23.20 and a 12 month high of $31.83. The company has a market capitalization of $21,190.00, a PE ratio of 16.68, a PEG ratio of 2.51 and a beta of 1.35.
In related news, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp 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 sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Horan Capital Advisors LLC. purchased a new position in Fifth Third Bancorp during the 3rd quarter valued at approximately $102,000. Valeo Financial Advisors LLC purchased a new position in Fifth Third Bancorp during the 3rd quarter valued at approximately $119,000. Sun Life Financial INC grew its holdings in Fifth Third Bancorp by 55,050.0% during the 2nd quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock valued at $143,000 after buying an additional 5,505 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in Fifth Third Bancorp during the 3rd quarter valued at approximately $202,000. Finally, Regentatlantic Capital LLC purchased a new position in Fifth Third Bancorp during the 3rd quarter valued at approximately $205,000. Institutional investors and hedge funds own 83.97% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Fifth Third Bancorp (FITB) Stock Rating Lowered by BidaskClub” was posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.com-unik.info/2017/12/18/fifth-third-bancorp-fitb-stock-rating-lowered-by-bidaskclub.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.
Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.