Fifth Third Bancorp (NASDAQ:FITB) Downgraded by StockNews.com

Fifth Third Bancorp (NASDAQ:FITB) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group lifted their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Bank of America upped their price objective on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Royal Bank of Canada upped their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.16.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $42.91 on Friday. The stock has a market capitalization of $29.04 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.03 and a beta of 1.22. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $43.85. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average is $41.32 and its two-hundred day moving average is $38.29.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same period in the previous year, the company posted $0.87 EPS. Equities analysts predict that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Insider Activity

In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at $5,376,880. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the sale, the director now directly owns 20,961 shares in the company, valued at $863,802.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,500 shares of company stock worth $2,269,920. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in Fifth Third Bancorp in the 1st quarter worth about $29,000. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth approximately $34,000. Centerpoint Advisors LLC increased its stake in Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after buying an additional 750 shares during the period. Family Firm Inc. purchased a new stake in Fifth Third Bancorp in the 2nd quarter worth approximately $52,000. Finally, Blue Trust Inc. boosted its stake in shares of Fifth Third Bancorp by 130.6% during the 2nd quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock valued at $60,000 after buying an additional 914 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.