Several analysts have recently updated their ratings and price targets for Fifth Third Bancorp (NASDAQ: FITB):

  • 8/9/2017 – Fifth Third Bancorp is now covered by analysts at Wells Fargo & Company. They set a “market perform” rating and a $27.00 price target on the stock.
  • 8/5/2017 – Fifth Third Bancorp was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/31/2017 – Fifth Third Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fifth Third’s shares have outperformed the industry over the past one year. The company’s second-quarter 2017 adjusted earnings outpaced the Zacks Consensus Estimate. Higher net interest income and lower provisions were recorded. Though the company’s branch digitization initiative and legal costs continue leading to an increase in expenses, we believe the company’s ongoing strategic efforts, such as Project North Star, will likely boost its efficiency and revenue over the long run. Also, margin pressure seems to be easing gradually, given the Fed interest rate hikes and improving economic backdrop with expected lesser regulations. Moreover, Fifth Third got the Fed's nod to 2017 capital plan and growing deposits base look encouraging.”
  • 7/27/2017 – Fifth Third Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $29.00 price target on the stock. According to Zacks, “Fifth Third’s shares outperformed the Zacks categorized Regional Banks-Major industry over the past one year. The company’s second-quarter 2017 adjusted earnings outpaced the Zacks Consensus Estimate, driven by higher net interest income and lower provisions. Though the company’s branch digitization initiative and legal costs continue leading to an increase in expenses, we believe the company’s ongoing strategic efforts, such as Project North Star, will likely boost its efficiency and revenue over the long run. Also, margin pressure seems to be easing gradually, given the Fed interest rate hikes and improving economic backdrop with expected lesser regulations. Moreover, Fifth Third got the Fed's nod to 2017 capital plan and growing deposits base look encouraging.”
  • 7/25/2017 – Fifth Third Bancorp had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $28.00 price target on the stock, up previously from $27.00.
  • 7/22/2017 – Fifth Third Bancorp had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 7/16/2017 – Fifth Third Bancorp was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/14/2017 – Fifth Third Bancorp had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $27.50 price target on the stock.
  • 7/14/2017 – Fifth Third Bancorp had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $28.00 price target on the stock.
  • 7/6/2017 – Fifth Third Bancorp had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $28.00 price target on the stock, up previously from $26.00.
  • 7/3/2017 – Fifth Third Bancorp had its “hold” rating reaffirmed by analysts at Deutsche Bank AG.
  • 6/30/2017 – Fifth Third Bancorp had its price target raised by analysts at Instinet from $27.00 to $28.00. They now have a “neutral” rating on the stock.
  • 6/23/2017 – Fifth Third Bancorp was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating.

Fifth Third Bancorp (FITB) traded down 2.80% during trading on Thursday, reaching $26.38. 5,283,268 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $26.20 and its 200-day moving average is $25.73. Fifth Third Bancorp has a 12-month low of $18.94 and a 12-month high of $28.97. The company has a market cap of $19.49 billion, a P/E ratio of 13.37 and a beta of 1.37.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business earned $0.40 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Analysts predict that Fifth Third Bancorp will post $1.83 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Wednesday, June 28th. Fifth Third Bancorp’s payout ratio is 28.43%.

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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