Fifth Third Bancorp (NASDAQ:FITB) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday.

FITB has been the subject of a number of other reports. Robert W. Baird lowered Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 target price for the company. in a research note on Monday, October 2nd. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Wednesday, October 11th. BMO Capital Markets restated a “hold” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a research note on Friday, December 8th. Oppenheimer restated a “hold” rating on shares of Fifth Third Bancorp in a research note on Thursday, December 7th. Finally, Nomura raised their target price on Fifth Third Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $28.68.

Shares of Fifth Third Bancorp (FITB) opened at $30.84 on Friday. Fifth Third Bancorp has a 12 month low of $23.20 and a 12 month high of $31.83. The firm has a market capitalization of $21,700.00, a price-to-earnings ratio of 11.64, a PEG ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93.

Fifth Third Bancorp (NASDAQ:FITB) last announced its 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. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company posted $0.65 earnings per share. sell-side analysts predict that Fifth Third Bancorp will post 1.79 EPS for the current year.

In other news, EVP Timothy Spence sold 15,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the completion of the transaction, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of FITB. Janus Henderson Group PLC grew its position in shares of Fifth Third Bancorp by 7,461.4% during 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 buying an additional 7,511,357 shares during the period. Balyasny Asset Management LLC grew its position in shares of Fifth Third Bancorp by 265.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 3,821,186 shares of the financial services provider’s stock worth $99,198,000 after buying an additional 2,775,259 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Fifth Third Bancorp by 97.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,382,624 shares of the financial services provider’s stock worth $87,813,000 after buying an additional 1,670,055 shares during the period. Vanguard Group Inc. grew its position in shares of Fifth Third Bancorp by 1.1% during 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 buying an additional 639,361 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Fifth Third Bancorp by 4.3% during 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 buying an additional 431,863 shares during the period. Institutional investors own 83.84% of the company’s stock.

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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.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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