BMO Capital Markets Reaffirms Hold Rating for Fifth Third Bancorp (FITB)

BMO Capital Markets reaffirmed their hold rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a report released on Friday. The firm currently has a $32.00 target price on the financial services provider’s stock.

Several other equities research analysts have also weighed in on the stock. Royal Bank of Canada reiterated a buy rating on shares of Fifth Third Bancorp in a research note on Sunday. Oppenheimer reiterated a hold rating on shares of Fifth Third Bancorp in a research note on Thursday, December 7th. Macquarie lowered shares of Fifth Third Bancorp from a neutral rating to an underperform rating and dropped their price objective for the stock from $28.47 to $26.00 in a research note on Friday, November 17th. Zacks Investment Research lowered shares of Fifth Third Bancorp from a buy rating to a hold rating in a research note on Friday, October 27th. Finally, Nomura increased their price objective on shares of Fifth Third Bancorp from $29.00 to $30.00 and gave the stock a neutral rating in a research note on Thursday, October 26th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $28.38.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at $30.30 on Friday. The firm has a market cap of $21,470.00, a PE ratio of 16.87, a P/E/G ratio of 2.53 and a beta of 1.35. Fifth Third Bancorp has a 12 month low of $23.20 and a 12 month high of $31.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $1.54 billion for 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 quarter in the prior year, the business earned $0.65 earnings per share. analysts expect that Fifth Third Bancorp will post 1.79 EPS for the current year.

In other news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value 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 $4,461,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Fifth Third Bancorp by 1.1% during the second quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after buying an additional 639,361 shares in the last quarter. Sanders Capital LLC boosted its holdings in Fifth Third Bancorp by 1.7% during the third quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after buying an additional 224,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Fifth Third Bancorp by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after buying an additional 431,863 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Fifth Third Bancorp by 7,461.4% during the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after buying an additional 7,511,357 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Fifth Third Bancorp by 0.9% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock worth $206,228,000 after buying an additional 68,086 shares in the last quarter. Hedge funds and other institutional investors own 83.97% of the company’s stock.

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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)

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