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

StockNews.com downgraded shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) from a hold rating to a sell rating in a research report report published on Tuesday morning.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada upped their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an "outperform" rating in a report on Monday, July 22nd. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, July 3rd. Baird R W downgraded Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Barclays increased their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Finally, Evercore ISI increased their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.28.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded down $0.04 during trading on Tuesday, hitting $44.01. The company had a trading volume of 5,488,262 shares, compared to its average volume of 4,620,197. The firm has a market capitalization of $29.78 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 2.09 and a beta of 1.22. Fifth Third Bancorp has a one year low of $22.93 and a one year high of $45.71. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The stock's 50-day moving average price is $42.60 and its 200 day moving average price is $39.47.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the company earned $0.92 EPS. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts expect that Fifth Third Bancorp will post 3.33 EPS for the current fiscal 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 3.36%. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's dividend payout ratio is 49.17%.

Insider Activity

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

Institutional Trading of Fifth Third Bancorp

Several large investors have recently modified their holdings of the business. Hexagon Capital Partners LLC boosted its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 312 shares in the last quarter. American Capital Advisory LLC bought a new position in Fifth Third Bancorp in the 2nd quarter valued at approximately $34,000. Abich Financial Wealth Management LLC boosted its stake in Fifth Third Bancorp by 1,787.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 1,269 shares during the last quarter. Centerpoint Advisors LLC increased its holdings in shares of 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 worth $50,000 after purchasing an additional 750 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Fifth Third Bancorp in the second quarter worth $52,000. 83.79% of the stock is owned by institutional investors.

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.