StockNews.com Lowers Fifth Third Bancorp (NASDAQ:FITB) to Sell

Fifth Third Bancorp (NASDAQ:FITBGet Rating) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

A number of other analysts also recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating and set a $37.00 price objective on shares of Fifth Third Bancorp in a report on Monday, December 5th. Royal Bank of Canada cut their price objective on shares of Fifth Third Bancorp from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of Fifth Third Bancorp from $37.50 to $39.00 in a research report on Wednesday, November 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Fifth Third Bancorp from $44.00 to $37.00 in a research report on Friday. Finally, DA Davidson started coverage on shares of Fifth Third Bancorp in a research report on Tuesday, December 20th. They issued a “neutral” rating and a $36.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average target price of $41.53.

Fifth Third Bancorp Trading Down 0.7 %

NASDAQ:FITB opened at $34.22 on Tuesday. The firm’s fifty day moving average is $34.14 and its 200-day moving average is $34.27. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.75 and a current ratio of 0.76. Fifth Third Bancorp has a 52 week low of $30.92 and a 52 week high of $50.64. The firm has a market cap of $23.49 billion, a P/E ratio of 10.53, a P/E/G ratio of 1.09 and a beta of 1.20.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last issued its earnings results on Thursday, October 20th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.05). Fifth Third Bancorp had a return on equity of 13.98% and a net margin of 27.47%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the company earned $0.94 earnings per share. Equities analysts expect that Fifth Third Bancorp will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 10,209 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $35.76, for a total transaction of $365,073.84. Following the transaction, the executive vice president now directly owns 69,534 shares of the company’s stock, valued at $2,486,535.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 10,209 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $35.76, for a total transaction of $365,073.84. Following the transaction, the executive vice president now directly owns 69,534 shares of the company’s stock, valued at $2,486,535.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James C. Leonard bought 3,893 shares of the firm’s stock in a transaction that occurred on Friday, October 21st. The stock was purchased at an average cost of $32.16 per share, for a total transaction of $125,198.88. Following the completion of the purchase, the chief financial officer now owns 139,244 shares of the company’s stock, valued at $4,478,087.04. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Trust Asset Management LLC increased its stake in shares of Fifth Third Bancorp by 4.1% in the second quarter. Trust Asset Management LLC now owns 7,202 shares of the financial services provider’s stock worth $242,000 after buying an additional 281 shares during the period. Heartland Bank & Trust Co increased its stake in shares of Fifth Third Bancorp by 4.2% in the second quarter. Heartland Bank & Trust Co now owns 7,392 shares of the financial services provider’s stock worth $248,000 after buying an additional 296 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Fifth Third Bancorp by 1.7% in the third quarter. Mercer Global Advisors Inc. ADV now owns 18,752 shares of the financial services provider’s stock valued at $599,000 after acquiring an additional 321 shares in the last quarter. Mill Capital Management LLC boosted its holdings in Fifth Third Bancorp by 1.1% in the third quarter. Mill Capital Management LLC now owns 31,432 shares of the financial services provider’s stock valued at $1,005,000 after acquiring an additional 328 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in Fifth Third Bancorp by 4.2% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 8,625 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 350 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

About Fifth Third Bancorp

(Get Rating)

Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact.

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