Fifth Third Bancorp (NASDAQ:FITB) Rating Increased to Buy at BidaskClub

Bruno Cirelli
Agosto 9, 2017

Six analysts have made estimates for Fifth Third Bancorp's earnings. Equities analysts anticipate that Fifth Third Bancorp will post $1.82 EPS for the current fiscal year. Similarly, full-year sales forecasts have ranged between $6.06 Billion and $6.28 Billion. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.03, MarketWatch Earnings reports. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. Fifth Third Bancorp had a return on equity of 10.44% and a net margin of 21.83%. Fifth Third Bancorp's revenue was up.1% compared to the same quarter past year. During the same quarter in the previous year, the business earned $0.40 EPS.

A number of analysts have weighed in on FITB shares. "Has $1,293,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)" was originally published by TheOlympiaReport and is owned by of TheOlympiaReport.

Jefferies Group LLC reissued their hold rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a report released on Friday, July 14th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $26.50 price target on shares of Fifth Third Bancorp in a research note on Friday, May 26th. Instinet increased their target price on Fifth Third Bancorp from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Friday, June 30th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the company's stock. The stock has an average rating of Hold and a consensus price target of $26.51. Hedge funds and other institutional investors own 80.50% of the company's stock. Shares for $373,200 were sold by Leonard James C. on Thursday, May 4.

Lloyds Banking Group plc (NYSE:LYG) stock shows decreases of -1.16% and traded at a price of $3.47 in preceding trading session.Lloyds Banking Group Plc's commercial banking division on Tuesday named Madeleine McDougall as head of its real estate team. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The scale runs from 1 to 5 with 1 recommending Strong Buy and 5 recommending a Strong Sell. The stock was sold at an average price of $24.90, for a total transaction of $647,649.00. The disclosure for this sale can be found here.

A number of large investors have recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of Fifth Third Bancorp by 56.0% in the first quarter. Macnealy Hoover Investment Management Inc. now owns 64,316 shares of the financial services provider's stock worth $1,669,000 after buying an additional 500 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Fifth Third Bancorp by 66.2% in the first quarter. Geode Capital Management LLC now owns 8,455,254 shares of the financial services provider's stock worth $214,494,000 after buying an additional 627,613 shares during the last quarter. Finally, Oppenheimer Holdings, Inc. reissued a hold rating on shares of Fifth Third Bancorp in a research note on Saturday, July 22nd. Bedrijfstakpensioenfonds Voor DE Media PNO bought a new stake in Fifth Third Bancorp during the second quarter worth approximately $1,610,000. Carroll Financial Associates Inc. now owns 15,677 shares of the financial services provider's stock worth $406,000 after buying an additional 3,482 shares during the period. AQR Capital Management LLC boosted its position in Fifth Third Bancorp by 87.1% in the first quarter. Great West Life Assurance Co.

Fifth Third Bancorp (FITB) belonging to the Financial Services sector has surged 1.55% and closed its last trading session at $27.45. The stock has a 50-day moving average price of $26.06 and a 200 day moving average price of $25.71. Fifth Third Bancorp has a 12-month low of $18.93 and a 12-month high of $28.97. The company has a market capitalization of $19.49 billion, a price-to-earnings ratio of 13.37 and a beta of 1.37. This repurchase authorization allows the financial services provider to repurchase up to 67% of its stock through open market purchases.

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Barrow Hanley Mewhinney & Strauss Limited Liability Corporation invested in 0.4% or 9.61 million shares.

Fifth Third Bancorp announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that allows the company to buyback $1.16 billion in shares. This represents a $0.56 annualized dividend and a yield of 2.07%. Fifth Third Bancorp's payout ratio is 28.43%.

Over the last 5 years, Fifth Third Bancorp has averaged a 10.30% YoY EPS growth rate and a -0.10% revenue growth rate. And it remains to be seen which target price FITB can achieve without sacrificing much as the company is holding a 41.49% gain for the past twelve months. 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.

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