Todays Report: The Fifth Third Bancorp (FITB) Lowered to “Reduce” at Nomura

The Fifth Third Bancorp (FITB) Lowered to “Reduce” at Nomura

Nomura lowered shares of Fifth Third Bancorp (NASDAQ:FITB) from a neutral rating to a reduce rating in a research report released on Monday morning.

FITB has been the subject of a number of other research reports. Keefe, Bruyette & Woods lowered Fifth Third Bancorp from an outperform rating to a market perform rating and lifted their price objective for the company from $20.50 to $21.00 in a research note on Monday, October 3rd. Barclays PLC reiterated an equal weight rating and set a $21.00 price objective on shares of Fifth Third Bancorp in a research note on Sunday, July 10th. Credit Suisse Group AG lowered Fifth Third Bancorp from an outperform rating to a market perform rating in a research note on Wednesday, July 6th. Rafferty Capital Markets upgraded Fifth Third Bancorp from a hold rating to a buy rating and set a $24.00 price objective for the company in a research note on Friday, September 16th. Finally, Jefferies Group lowered Fifth Third Bancorp from a buy rating to a hold rating and lifted their price objective for the company from $19.50 to $22.00 in a research note on Friday, October 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $20.64.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 19.74 on Monday. The stock has a 50 day moving average price of $20.33 and a 200 day moving average price of $18.69. Fifth Third Bancorp has a 1-year low of $13.84 and a 1-year high of $21.14. The company has a market capitalization of $15.13 billion, a price-to-earnings ratio of 9.62 and a beta of 1.33.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same quarter last year, the company posted $0.36 earnings per share. On average, equities analysts anticipate that Fifth Third Bancorp will post $1.60 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, September 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 25.49%.

Large investors have recently added to or reduced their stakes in the company. Cornerstone Investment Partners LLC increased its stake in Fifth Third Bancorp by 15.2% in the third quarter. Cornerstone Investment Partners LLC now owns 47,421 shares of the financial services provider’s stock valued at $970,000 after buying an additional 6,271 shares during the period. Nisa Investment Advisors LLC increased its stake in Fifth Third Bancorp by 10.9% in the third quarter. Nisa Investment Advisors LLC now owns 455,261 shares of the financial services provider’s stock valued at $9,315,000 after buying an additional 44,770 shares during the period. Capstone Asset Management Co. increased its stake in Fifth Third Bancorp by 0.6% in the third quarter. Capstone Asset Management Co. now owns 82,283 shares of the financial services provider’s stock valued at $1,684,000 after buying an additional 512 shares during the period. Carroll Financial Associates Inc. increased its stake in Fifth Third Bancorp by 3.9% in the third quarter. Carroll Financial Associates Inc. now owns 12,163 shares of the financial services provider’s stock valued at $248,000 after buying an additional 462 shares during the period. Finally, Sadoff Investment Management LLC increased its stake in Fifth Third Bancorp by 2.3% in the third quarter. Sadoff Investment Management LLC now owns 1,132,998 shares of the financial services provider’s stock valued at $23,181,000 after buying an additional 25,950 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Company Profile

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