Macquarie downgraded shares of Fifth Third Bancorp (NASDAQ:FITB) from a neutral rating to an underperform rating in a research note issued to investors on Friday. They currently have $26.00 price objective on the financial services provider’s stock, down from their previous price objective of $28.47.

Several other equities research analysts have also issued reports on FITB. Zacks Investment Research lowered shares of Fifth Third Bancorp from a buy rating to a hold rating in a report on Monday, July 31st. BidaskClub lowered shares of Fifth Third Bancorp from a buy rating to a hold rating in a report on Saturday, August 12th. Robert W. Baird lowered shares of Fifth Third Bancorp from a neutral rating to an underperform rating and set a $24.00 price target on the stock. in a report on Monday, October 2nd. Nomura boosted their price target on shares of Fifth Third Bancorp from $29.00 to $30.00 and gave the company a neutral rating in a report on Thursday, October 26th. Finally, Oppenheimer Holdings, Inc. reissued a hold rating on shares of Fifth Third Bancorp in a report on Saturday, July 22nd. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $28.23.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded down $0.02 during mid-day trading on Friday, reaching $28.45. 3,765,003 shares of the company were exchanged, compared to its average volume of 5,757,261. Fifth Third Bancorp has a fifty-two week low of $23.20 and a fifty-two week high of $29.39. The company has a market capitalization of $20,090.00, a price-to-earnings ratio of 15.89, a P/E/G ratio of 2.37 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. equities analysts anticipate that Fifth Third Bancorp will post 1.8 EPS for the current fiscal year.

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In related news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the transaction, the executive vice president now owns 154,577 shares in the company, valued at approximately $4,461,092.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FITB. LS Investment Advisors LLC lifted its position in Fifth Third Bancorp by 3.8% during the 2nd quarter. LS Investment Advisors LLC now owns 34,028 shares of the financial services provider’s stock worth $883,000 after buying an additional 1,243 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Fifth Third Bancorp by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 46,500 shares of the financial services provider’s stock worth $1,207,000 after buying an additional 400 shares in the last quarter. Aperio Group LLC lifted its position in Fifth Third Bancorp by 14.1% during the 2nd quarter. Aperio Group LLC now owns 467,785 shares of the financial services provider’s stock worth $12,144,000 after buying an additional 57,799 shares in the last quarter. Bollard Group LLC lifted its position in Fifth Third Bancorp by 0.6% during the 2nd quarter. Bollard Group LLC now owns 17,906 shares of the financial services provider’s stock worth $465,000 after buying an additional 102 shares in the last quarter. Finally, Manning & Napier Advisors LLC lifted its position in Fifth Third Bancorp by 71.6% during the 2nd quarter. Manning & Napier Advisors LLC now owns 171,184 shares of the financial services provider’s stock worth $4,443,000 after buying an additional 71,423 shares in the last quarter. Institutional investors and hedge funds own 81.45% of the company’s stock.

About Fifth Third Bancorp

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.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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