Fifth Third Bancorp (FITB) Earns Sell Rating from UBS AG

UBS AG reiterated their sell rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research note issued to investors on Friday morning, www.benzinga.com reports. The brokerage currently has a $26.00 target price on the financial services provider’s stock, up from their prior target price of $25.00.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reissued a hold rating and set a $27.50 price objective on shares of Fifth Third Bancorp in a report on Friday, July 14th. BMO Capital Markets reissued a market perform rating and set a $28.00 price objective (up from $27.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 25th. TheStreet raised shares of Fifth Third Bancorp from a c+ rating to a b rating in a report on Friday, June 23rd. BidaskClub cut shares of Fifth Third Bancorp from a buy rating to a hold rating in a report on Saturday, August 12th. Finally, Zacks Investment Research raised shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $31.00 target price for the company in a report on Monday, September 25th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $27.92.

Fifth Third Bancorp (NASDAQ:FITB) opened at 28.19 on Friday. The stock’s 50 day moving average is $26.79 and its 200-day moving average is $25.68. The company has a market capitalization of $20.77 billion, a P/E ratio of 14.29 and a beta of 1.37. Fifth Third Bancorp has a 52-week low of $19.57 and a 52-week high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Analysts predict that Fifth Third Bancorp will post $1.83 EPS for the current fiscal year.

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Fifth Third Bancorp announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.16 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 67% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.16 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.27%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.14. Fifth Third Bancorp’s dividend payout ratio is currently 32.49%.

In related news, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $26.21, for a total value of $183,574.84. Following the transaction, the executive vice president now owns 71,793 shares of the company’s stock, valued at approximately $1,881,694.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its stake in Fifth Third Bancorp by 1.5% in the 2nd quarter. Prudential Financial Inc. now owns 2,234,087 shares of the financial services provider’s stock worth $57,997,000 after buying an additional 33,660 shares during the period. Gotham Asset Management LLC purchased a new position in Fifth Third Bancorp in the 1st quarter worth about $303,000. Cornerstone Advisors Inc. increased its stake in Fifth Third Bancorp by 14.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock worth $177,000 after buying an additional 847 shares during the period. Principal Financial Group Inc. increased its stake in Fifth Third Bancorp by 4.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock worth $38,232,000 after buying an additional 68,859 shares during the period. Finally, Capital Fund Management S.A. increased its stake in Fifth Third Bancorp by 69.8%

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reissued a hold rating and set a $27.50 price objective on shares of Fifth Third Bancorp in a report on Friday, July 14th. BMO Capital Markets reissued a market perform rating and set a $28.00 price objective (up from $27.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 25th. TheStreet raised shares of Fifth Third Bancorp from a c+ rating to a b rating in a report on Friday, June 23rd. BidaskClub cut shares of Fifth Third Bancorp from a buy rating to a hold rating in a report on Saturday, August 12th. Finally, Zacks Investment Research raised shares of Fifth Third Bancorp from a hold rating to a buy rating and set a $31.00 target price for the company in a report on Monday, September 25th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $27.92.

Fifth Third Bancorp (NASDAQ:FITB) opened at 28.19 on Friday. The stock’s 50 day moving average is $26.79 and its 200-day moving average is $25.68. The company has a market capitalization of $20.77 billion, a P/E ratio of 14.29 and a beta of 1.37. Fifth Third Bancorp has a 52-week low of $19.57 and a 52-week high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Analysts predict that Fifth Third Bancorp will post $1.83 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Fifth Third Bancorp (FITB) Earns Sell Rating from UBS AG” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/09/fifth-third-bancorp-fitb-earns-sell-rating-from-ubs-ag.html.

Fifth Third Bancorp announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.16 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 67% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.16 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.27%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.14. Fifth Third Bancorp’s dividend payout ratio is currently 32.49%.

In related news, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $26.21, for a total value of $183,574.84. Following the transaction, the executive vice president now owns 71,793 shares of the company’s stock, valued at approximately $1,881,694.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its stake in Fifth Third Bancorp by 1.5% in the 2nd quarter. Prudential Financial Inc. now owns 2,234,087 shares of the financial services provider’s stock worth $57,997,000 after buying an additional 33,660 shares during the period. Gotham Asset Management LLC purchased a new position in Fifth Third Bancorp in the 1st quarter worth about $303,000. Cornerstone Advisors Inc. increased its stake in Fifth Third Bancorp by 14.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock worth $177,000 after buying an additional 847 shares during the period. Principal Financial Group Inc. increased its stake in Fifth Third Bancorp by 4.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock worth $38,232,000 after buying an additional 68,859 shares during the period. Finally, Capital Fund Management S.A. increased its stake in Fifth Third Bancorp by 69.8% in the 2nd quarter. Capital Fund Management S.A. now owns 321,226 shares of the financial services provider’s stock worth $8,339,000 after buying an additional 132,047 shares during the period. 79.58% of the stock is currently owned by institutional investors.

About Fifth Third Bancorp

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.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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