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

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

A number of other equities research analysts have also commented on FITB. Jefferies Financial Group increased their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Argus raised their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Morgan Stanley upped their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Evercore ISI lifted their target price 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, Royal Bank of Canada upped their price target 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.78.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $42.67 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market cap of $29.19 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $43.85. The company’s 50-day moving average price is $41.48 and its two-hundred day moving average price is $38.72.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same period in the previous year, the firm earned $0.87 earnings per share. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the sale, the director now directly owns 20,961 shares of the company’s stock, valued at $863,802.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,500 shares of company stock worth $2,269,920. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp in the first quarter valued at approximately $29,000. Hexagon Capital Partners LLC increased its stake in Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares during the last quarter. American Capital Advisory LLC bought a new stake in Fifth Third Bancorp during the 2nd quarter worth about $34,000. Centerpoint Advisors LLC boosted its stake in shares of Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares during the last quarter. Finally, Family Firm Inc. bought a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Fifth Third Bancorp

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.