Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Fifth Third Bancorp (NASDAQ:FITB) Share Price
Headlines about Fifth Third Bancorp (NASDAQ:FITB) have trended somewhat positive recently, according to Accern. The research group ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fifth Third Bancorp earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 45.9876985237124 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the news articles that may have effected Accern’s scoring:
- First Republic Bank: What’s Driving The Surge In The Stock – Seeking Alpha (seekingalpha.com)
- Baird Upgrades Rating On Fifth Third Bancorp (FITB) To “Neutral” – Modern Readers (modernreaders.com)
- CareSource and Fifth Third Bank Partner to Promote Health and Financial Wellness (finance.yahoo.com)
- Equities Analysts Issue Forecasts for Fifth Third Bancorp’s FY2017 Earnings (NASDAQ:FITB) (americanbankingnews.com)
- Stocks Flashing Renewed Technical Strength: Fifth Third Bancorp (investors.com)
A number of research analysts have recently commented on the company. BidaskClub upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Wells Fargo & Company assumed coverage on Fifth Third Bancorp in a research report on Wednesday. They set a “market perform” rating and a $27.00 target price for the company. Deutsche Bank AG reiterated a “hold” rating on shares of Fifth Third Bancorp in a research report on Monday, July 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $28.00 target price (up from $26.00) on shares of Fifth Third Bancorp in a research report on Thursday, July 6th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $28.00 target price (up from $27.00) on shares of Fifth Third Bancorp in a research report on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have given a buy rating to the stock. Fifth Third Bancorp presently has an average rating of “Hold” and an average price target of $26.54.
Shares of Fifth Third Bancorp (NASDAQ FITB) traded down 2.80% during mid-day trading on Thursday, reaching $26.38. The company had a trading volume of 5,283,268 shares. Fifth Third Bancorp has a 1-year low of $18.94 and a 1-year high of $28.97. The company has a market capitalization of $19.49 billion, a PE ratio of 13.37 and a beta of 1.37. The stock’s 50-day moving average price is $26.20 and its 200 day moving average price is $25.73.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Fifth Third Bancorp had a return on equity of 10.44% and a net margin of 21.83%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect that Fifth Third Bancorp will post $1.83 EPS for the current year.
Fifth Third Bancorp declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $1.16 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 67% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 28.43%.
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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.
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