Fifth Third Bancorp (FITB) Upgraded to “Hold” at BidaskClub

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Fifth Third Bancorp (NASDAQ:FITB) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the company. Stephens raised Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 20th. BMO Capital Markets lowered their price target on Fifth Third Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, October 24th. Citigroup raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating and lowered their price target for the company from $37.00 to $29.00 in a research report on Wednesday, January 9th. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Tuesday, January 8th. Finally, Piper Jaffray Companies set a $31.00 price target on Fifth Third Bancorp and gave the company a “hold” rating in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.75.

Shares of NASDAQ:FITB opened at $27.00 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00. Fifth Third Bancorp has a twelve month low of $22.12 and a twelve month high of $34.67. The company has a market cap of $17.22 billion, a PE ratio of 10.07, a PEG ratio of 1.35 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Fifth Third Bancorp had a return on equity of 11.74% and a net margin of 28.89%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm earned $1.35 earnings per share. Equities analysts predict that Fifth Third Bancorp will post 2.49 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Oakbrook Investments LLC boosted its stake in Fifth Third Bancorp by 63.7% in the 4th quarter. Oakbrook Investments LLC now owns 63,820 shares of the financial services provider’s stock worth $1,502,000 after purchasing an additional 24,834 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Fifth Third Bancorp by 716.7% in the 4th quarter. First Citizens Bank & Trust Co. now owns 110,511 shares of the financial services provider’s stock valued at $2,600,000 after acquiring an additional 96,979 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Fifth Third Bancorp by 17.3% in the 4th quarter. Gateway Investment Advisers LLC now owns 138,102 shares of the financial services provider’s stock valued at $3,250,000 after acquiring an additional 20,366 shares in the last quarter. Park National Corp OH raised its holdings in shares of Fifth Third Bancorp by 10.6% in the 4th quarter. Park National Corp OH now owns 61,278 shares of the financial services provider’s stock valued at $1,442,000 after acquiring an additional 5,894 shares in the last quarter. Finally, Paradigm Asset Management Co. LLC raised its holdings in shares of Fifth Third Bancorp by 2.1% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 81,360 shares of the financial services provider’s stock valued at $2,272,000 after acquiring an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 81.84% of the company’s stock.

About Fifth Third Bancorp

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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