Fifth Third Bancorp (NASDAQ:FITB) was downgraded by stock analysts at Nomura from a “neutral” rating to a “reduce” rating in a research report issued on Monday, The Fly reports.
FITB has been the subject of a number of other research reports. Jefferies Group reissued a “buy” rating and issued a $19.50 target price on shares of Fifth Third Bancorp in a report on Thursday, July 7th. Credit Agricole SA lifted their price objective on Fifth Third Bancorp from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, September 23rd. Rafferty Capital Markets raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Friday, September 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $19.00 price objective (down previously from $20.00) on shares of Fifth Third Bancorp in a report on Wednesday, July 6th. Finally, FBR & Co reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Fifth Third Bancorp in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and nine have assigned a buy rating to the company. Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $20.64.
Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 20.69 on Monday. The company’s 50-day moving average price is $20.25 and its 200-day moving average price is $18.61. The stock has a market cap of $15.86 billion, a PE ratio of 10.08 and a beta of 1.33. Fifth Third Bancorp has a one year low of $13.84 and a one year high of $21.14.
Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.41 EPS for the quarter, topping 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 period last year, the business posted $0.36 earnings per share. Equities research analysts anticipate that Fifth Third Bancorp will post $1.60 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.51%. Fifth Third Bancorp’s dividend payout ratio is 25.49%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BB&T Securities LLC boosted its position in Fifth Third Bancorp by 6,173.4% in the first quarter. BB&T Securities LLC now owns 644,838 shares of the financial services provider’s stock worth $10,762,000 after buying an additional 634,559 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in Fifth Third Bancorp during the first quarter worth approximately $27,053,000. Canada Pension Plan Investment Board boosted its position in Fifth Third Bancorp by 160.4% in the first quarter. Canada Pension Plan Investment Board now owns 925,820 shares of the financial services provider’s stock worth $15,452,000 after buying an additional 570,300 shares in the last quarter. Willis Investment Counsel boosted its position in Fifth Third Bancorp by 33.9% in the first quarter. Willis Investment Counsel now owns 585,370 shares of the financial services provider’s stock worth $9,770,000 after buying an additional 148,200 shares in the last quarter. Finally, Credit Agricole S A boosted its position in Fifth Third Bancorp by 18.6% in the first quarter. Credit Agricole S A now owns 1,430,096 shares of the financial services provider’s stock worth $23,869,000 after buying an additional 224,172 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.
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.