Investment Analysts’ Weekly Ratings Updates for Fifth Third Bancorp (FITB)

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A number of firms have modified their ratings and price targets on shares of Fifth Third Bancorp (NASDAQ: FITB) recently:

  • 1/11/2019 – Fifth Third Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Fifth Third have underperformed the industry over the past six months. While estimates ahead of fourth-quarter 2018 earnings have remained stable lately, the company displays an impressive earnings surprise history, beating the Zacks Consensus Estimate in all the trailing four quarters. The company’s ongoing strategic efforts, such as Project North Star, will likely boost its efficiency and revenues over the long run. Also, margin pressure seems to be easing gradually due to the Fed’s interest rate hikes and improving economic backdrop. However, elevated expenses on the company’s branch digitization initiative and legal issues remain headwinds. Also, significant exposure to commercial loans remains a concern.”
  • 1/9/2019 – Fifth Third Bancorp was upgraded by analysts at Citigroup Inc from a “neutral” rating to a “buy” rating. They now have a $29.00 price target on the stock, down previously from $37.00.
  • 1/8/2019 – Fifth Third Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $28.00 price target on the stock. According to Zacks, “Shares of Fifth Third have underperformed the industry over the past six months. While estimates ahead of fourth-quarter 2018 earnings have remained stable lately, the company displays an impressive earnings surprise history, beating the Zacks Consensus Estimate in all the trailing four quarters. The company’s ongoing strategic efforts, such as Project North Star, will likely boost its efficiency and revenues over the long run. Also, margin pressure seems to be easing gradually due to the Fed’s interest rate hikes and improving economic backdrop. However, elevated expenses on the company’s branch digitization initiative and legal issues remain headwinds. Also, significant exposure to commercial loans remains a concern. Nevertheless, its steady capital deployment activities keep us encouraged.”
  • 1/2/2019 – Fifth Third Bancorp had its price target lowered by analysts at Barclays PLC from $35.00 to $31.00. They now have an “equal weight” rating on the stock.
  • 12/20/2018 – Fifth Third Bancorp was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating.
  • 12/13/2018 – Fifth Third Bancorp was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 12/11/2018 – Fifth Third Bancorp had its price target lowered by analysts at Morgan Stanley from $32.00 to $30.00. They now have an “equal weight” rating on the stock.

Shares of FITB opened at $25.06 on Monday. The firm has a market cap of $16.42 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.28 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.00. Fifth Third Bancorp has a 12 month low of $22.12 and a 12 month high of $34.67.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. Fifth Third Bancorp had a return on equity of 11.74% and a net margin of 28.89%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the business earned $1.35 EPS. On average, equities analysts forecast that Fifth Third Bancorp will post 2.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.22 dividend. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, December 28th. This represents a $0.88 annualized dividend and a dividend yield of 3.51%. Fifth Third Bancorp’s dividend payout ratio is presently 32.84%.

Large investors have recently added to or reduced their stakes in the company. Rational Advisors LLC grew its stake in shares of Fifth Third Bancorp by 244.7% in the third quarter. Rational Advisors LLC now owns 3,588 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 2,547 shares in the last quarter. Centaurus Financial Inc. bought a new position in Fifth Third Bancorp during the second quarter valued at about $131,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Fifth Third Bancorp by 79.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,128 shares of the financial services provider’s stock valued at $199,000 after buying an additional 3,148 shares in the last quarter. Private Advisor Group LLC bought a new position in Fifth Third Bancorp during the third quarter valued at about $210,000. Finally, Cozad Asset Management Inc. bought a new position in Fifth Third Bancorp during the second quarter valued at about $211,000. 81.85% of the stock is owned by institutional investors.

Fifth Third Bancorp operates as a diversified financial services company in the United States. 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.

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