Fifth Third Bancorp (NASDAQ: FITB) has recently received a number of price target changes and ratings updates:
- 10/4/2016 – Fifth Third Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $23.00 price target on the stock. According to Zacks, “Fifth Third’s estimates have been stable lately ahead of the company’s third-quarter 2016 earnings release. The company has positive record of earnings surprises in recent quarters. We remain encouraged by its ongoing strategic efforts which are likely to boost its efficiency and revenue in the long run. Further, the company remains on track to achieve $65 million in expense savings from branch divestitures. In Sep 2016, management announced it plans to consolidate or sell an additional 44 branches and five parcels of land beginning next year. Moreover, the company is likely to benefit from the ongoing economic recovery, given its diversified traditional banking platform. However, several issues including margin compression amid slow rise in interest rates and strict regulatory landscape remain concerns.”
- 10/3/2016 – Fifth Third Bancorp was downgraded by analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating. They now have a $21.00 price target on the stock, up previously from $20.50.
- 9/23/2016 – Fifth Third Bancorp had its price target raised by analysts at Credit Agricole SA from $19.00 to $23.00. They now have an “outperform” rating on the stock.
- 9/22/2016 – Fifth Third Bancorp was upgraded by analysts at Compass Point from a “neutral” rating to a “buy” rating.
- 9/16/2016 – Fifth Third Bancorp was upgraded by analysts at Rafferty Capital Markets from a “hold” rating to a “buy” rating. They now have a $24.00 price target on the stock.
- 9/14/2016 – Fifth Third Bancorp was upgraded by analysts at Compass Point from a “neutral” rating to a “buy” rating. They now have a $23.20 price target on the stock.
Fifth Third Bancorp (NASDAQ:FITB) opened at 20.47 on Wednesday. The stock has a 50 day moving average price of $20.14 and a 200-day moving average price of $18.56. Fifth Third Bancorp has a 12-month low of $13.84 and a 12-month high of $21.14. The stock has a market capitalization of $15.69 billion, a P/E ratio of 9.97 and a beta of 1.33.
Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same period in the previous year, the business posted $0.36 EPS. Equities research analysts expect that Fifth Third Bancorp will post $1.60 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Wednesday, September 28th. Fifth Third Bancorp’s payout ratio is 25.49%.
Fifth Third Bancorp is a bank holding company and a financial holding company. 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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