Shares of Fifth Third Bancorp (NASDAQ:FITB) have been assigned an average rating of “Hold” from the twenty-four research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $32.56.

Several brokerages have issued reports on FITB. Robert W. Baird upgraded shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $32.00 target price on the stock in a report on Tuesday, May 22nd. BidaskClub cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 22nd. ValuEngine cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Monday, July 16th. Finally, Macquarie upgraded shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 22nd.

Fifth Third Bancorp stock traded down $0.01 during midday trading on Monday, hitting $29.49. 5,135,028 shares of the company’s stock were exchanged, compared to its average volume of 4,012,443. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Fifth Third Bancorp has a 12 month low of $24.86 and a 12 month high of $34.67. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.64 and a beta of 1.25.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, July 19th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Fifth Third Bancorp had a net margin of 32.86% and a return on equity of 11.12%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the business earned $0.45 EPS. equities analysts expect that Fifth Third Bancorp will post 2.51 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Fifth Third Bancorp by 5.9% in the 2nd quarter. BlackRock Inc. now owns 48,455,130 shares of the financial services provider’s stock valued at $1,390,661,000 after purchasing an additional 2,718,504 shares during the last quarter. Boston Partners raised its position in shares of Fifth Third Bancorp by 1.0% in the 2nd quarter. Boston Partners now owns 12,408,147 shares of the financial services provider’s stock valued at $356,114,000 after purchasing an additional 117,763 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Fifth Third Bancorp by 16.9% in the 2nd quarter. Wells Fargo & Company MN now owns 7,362,392 shares of the financial services provider’s stock valued at $211,301,000 after purchasing an additional 1,062,218 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Fifth Third Bancorp by 119.9% in the 2nd quarter. Janus Henderson Group PLC now owns 4,875,534 shares of the financial services provider’s stock valued at $139,929,000 after purchasing an additional 2,658,672 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Fifth Third Bancorp by 106.3% in the 2nd quarter. Schroder Investment Management Group now owns 4,166,562 shares of the financial services provider’s stock valued at $119,747,000 after purchasing an additional 2,146,656 shares during the last quarter. 83.91% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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