Fifth Third Bancorp (NASDAQ:FITB) Stock Rating Lowered by StockNews.com

Fifth Third Bancorp (NASDAQ:FITB) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Other equities research analysts have also issued research reports about the company. Argus increased their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada raised their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Evercore ISI raised their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Barclays raised their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.28.

Fifth Third Bancorp Stock Up 0.2 %

Shares of NASDAQ:FITB opened at $44.08 on Tuesday. The stock’s fifty day simple moving average is $42.73 and its 200-day simple moving average is $39.57. Fifth Third Bancorp has a 52-week low of $23.17 and a 52-week high of $45.71. The company has a market capitalization of $29.83 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.09 and a beta of 1.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company posted $0.92 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Institutional Trading of Fifth Third Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Centennial Wealth Advisory LLC boosted its position in shares of Fifth Third Bancorp by 3.2% in the third quarter. Centennial Wealth Advisory LLC now owns 9,691 shares of the financial services provider’s stock worth $415,000 after buying an additional 297 shares during the period. Greenwood Capital Associates LLC bought a new position in shares of Fifth Third Bancorp in the third quarter worth about $981,000. Catalyst Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp in the third quarter worth about $53,000. QRG Capital Management Inc. increased its stake in shares of Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Fifth Third Bancorp by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 257,478 shares of the financial services provider’s stock worth $11,030,000 after purchasing an additional 879 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.