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

StockNews.com cut shares of Fifth Third Bancorp (NASDAQ:FITB) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

A number of other research firms also recently weighed in on FITB. Evercore ISI increased their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Argus boosted their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America upped their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Barclays boosted their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $42.28.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $43.68 on Tuesday. The firm has a market cap of $29.56 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.09 and a beta of 1.22. Fifth Third Bancorp has a 12 month low of $23.17 and a 12 month high of $45.71. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average price of $42.78 and a 200 day moving average price of $39.60.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts expect that Fifth Third Bancorp will post 3.33 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.39%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Insider Activity

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

A number of large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of Fifth Third Bancorp by 1.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 142,826 shares of the financial services provider’s stock valued at $5,315,000 after buying an additional 1,940 shares during the last quarter. Diversified Trust Co increased its holdings in Fifth Third Bancorp by 4.2% in the 1st quarter. Diversified Trust Co now owns 9,608 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 390 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Fifth Third Bancorp by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 73,905 shares of the financial services provider’s stock worth $2,750,000 after acquiring an additional 365 shares during the period. Norden Group LLC bought a new stake in Fifth Third Bancorp during the 1st quarter worth approximately $622,000. Finally, First Trust Direct Indexing L.P. grew its position in Fifth Third Bancorp by 24.7% during the first quarter. First Trust Direct Indexing L.P. now owns 15,596 shares of the financial services provider’s stock worth $580,000 after buying an additional 3,090 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

About Fifth Third Bancorp

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.