Fifth Third Bancorp (NASDAQ:FITB) Stock Rating Lowered by StockNews.com

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

Several other equities research analysts also recently weighed in on FITB. Piper Sandler reduced their target price on shares of Fifth Third Bancorp from $32.00 to $31.00 in a research note on Thursday, June 15th. Barclays reduced their target price on shares of Fifth Third Bancorp from $36.00 to $34.00 in a research note on Tuesday, June 27th. Stephens reaffirmed an overweight rating and issued a $31.00 price target on shares of Fifth Third Bancorp in a research note on Friday, July 21st. Wells Fargo & Company reduced their price target on shares of Fifth Third Bancorp from $40.00 to $35.00 in a research note on Thursday, June 15th. Finally, Royal Bank of Canada reduced their price target on shares of Fifth Third Bancorp from $36.00 to $34.00 and set an outperform rating on the stock in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of Hold and a consensus price target of $32.50.

Fifth Third Bancorp Price Performance

FITB stock opened at $26.41 on Wednesday. Fifth Third Bancorp has a 52 week low of $22.11 and a 52 week high of $38.06. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $27.15 and a two-hundred day simple moving average of $27.14. The firm has a market capitalization of $17.98 billion, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 0.95 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). Fifth Third Bancorp had a net margin of 22.66% and a return on equity of 16.92%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the company posted $0.79 EPS. Analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend was Thursday, June 29th. Fifth Third Bancorp’s dividend payout ratio is currently 37.50%.

Institutional Trading of Fifth Third Bancorp

A number of institutional investors have recently modified their holdings of FITB. Coastal Investment Advisors Inc. bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $32,000. HHM Wealth Advisors LLC boosted its holdings in shares of Fifth Third Bancorp by 124,100.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 1,242 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,241 shares in the last quarter. Archer Investment Corp bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $33,000. Heritage Wealth Management LLC boosted its holdings in shares of Fifth Third Bancorp by 100.0% in the 4th quarter. Heritage Wealth Management LLC now owns 1,048 shares of the financial services provider’s stock valued at $34,000 after buying an additional 524 shares in the last quarter. Finally, Clear Street Markets LLC boosted its holdings in shares of Fifth Third Bancorp by 93.4% in the 1st quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after buying an additional 647 shares in the last quarter. 77.96% of the stock is currently owned by institutional investors.

About Fifth Third Bancorp

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.