Fifth Third Bancorp (NASDAQ:FITB) shares hit a new 52-week high on Monday . The company traded as high as $31.62 and last traded at $30.69, with a volume of 7486600 shares traded. The stock had previously closed at $30.51.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Oppenheimer reissued a “hold” rating on shares of Fifth Third Bancorp in a research note on Tuesday, October 24th. Royal Bank Of Canada raised their price objective on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Bank of America raised their price objective on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Nomura raised their price objective on shares of Fifth Third Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the company’s stock. Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $28.23.

The stock has a market capitalization of $21,654.29, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 2.55 and a beta of 1.35. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.48. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same quarter last year, the business earned $0.65 EPS. research analysts expect that Fifth Third Bancorp will post 1.79 earnings per share for the current year.

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

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Fifth Third Bancorp by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after purchasing an additional 639,361 shares during the last quarter. Sanders Capital LLC increased its position in shares of Fifth Third Bancorp by 1.7% in the 3rd quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after purchasing an additional 224,800 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Fifth Third Bancorp by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after purchasing an additional 431,863 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Fifth Third Bancorp by 7,461.4% in the 2nd quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after purchasing an additional 7,511,357 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Fifth Third Bancorp by 0.9% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock worth $206,228,000 after purchasing an additional 68,086 shares during the last quarter. 83.97% of the stock is currently owned by institutional investors and hedge funds.

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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.

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