Jefferies Group LLC reaffirmed their hold rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research report report published on Friday, July 14th. They currently have a $28.00 price target on the financial services provider’s stock. Jefferies Group also issued estimates for Fifth Third Bancorp’s Q3 2017 earnings at $0.48 EPS, Q4 2017 earnings at $0.51 EPS and FY2017 earnings at $1.78 EPS.
A number of other research firms have also recently commented on FITB. Deutsche Bank AG reissued a hold rating on shares of Fifth Third Bancorp in a report on Monday, July 3rd. Morgan Stanley restated 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 report on Thursday, July 6th. Hilliard Lyons upgraded Fifth Third Bancorp from an underperform rating to a neutral rating and set a $27.00 price objective for the company in a research report on Monday, March 20th. Instinet raised their price objective on Fifth Third Bancorp from $27.00 to $28.00 and gave the company a neutral rating in a research report on Friday, June 30th. Finally, BMO Capital Markets restated a hold rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, April 25th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $26.54.
Fifth Third Bancorp (NASDAQ FITB) traded down 1.02% during trading on Friday, hitting $26.11. The stock had a trading volume of 4,345,297 shares. Fifth Third Bancorp has a 52 week low of $18.95 and a 52 week high of $28.97. The company has a market cap of $19.24 billion, a price-to-earnings ratio of 13.23 and a beta of 1.37. The company has a 50-day moving average of $26.26 and a 200 day moving average of $25.73.
Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.03. Fifth Third Bancorp had a return on equity of 10.44% and a net margin of 21.83%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the firm earned $0.40 EPS. Fifth Third Bancorp’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts anticipate that Fifth Third Bancorp will post $1.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.14%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 28.43%.
Fifth Third Bancorp declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that permits the company to repurchase $1.16 billion in shares. This repurchase authorization permits the financial services provider to buy up to 67% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of FITB. Assetmark Inc. increased its position in shares of Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares during the period. Quadrant Capital Group LLC increased its position in Fifth Third Bancorp by 7.1% in the first quarter. Quadrant Capital Group LLC now owns 5,581 shares of the financial services provider’s stock valued at $138,000 after buying an additional 370 shares during the period. Sterling Investment Advisors Ltd. increased 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 buying an additional 1,000 shares during the period. YorkBridge Wealth Partners LLC increased its position in Fifth Third Bancorp by 5.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider’s stock valued at $142,000 after buying an additional 298 shares during the period. Finally, Duncker Streett & Co. Inc. increased 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 buying an additional 17 shares during the period. Institutional investors and hedge funds own 80.50% of the company’s stock.
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.
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