Robert W. Baird Reiterates “Sell” Rating for Fifth Third Bancorp (FITB)

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “sell” rating reaffirmed by analysts at Robert W. Baird in a research note issued on Wednesday. They presently have a $29.00 price objective on the financial services provider’s stock. Robert W. Baird’s price objective would indicate a potential downside of 5.32% from the stock’s current price.

A number of other brokerages have also commented on FITB. BidaskClub upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Oppenheimer reiterated a “hold” rating on shares of Fifth Third Bancorp in a research report on Thursday, December 7th. BMO Capital Markets restated a “hold” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research report on Friday, December 8th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Fifth Third Bancorp in a research report on Sunday, December 10th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $29.23.

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up $0.11 during mid-day trading on Wednesday, reaching $30.63. The company had a trading volume of 7,453,300 shares, compared to its average volume of 7,269,300. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $21,610.00, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 2.21 and a beta of 1.35. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $31.83.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.48. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. During the same period last year, the company earned $0.65 earnings per share. analysts expect that Fifth Third Bancorp will post 1.79 EPS for the current year.

In other news, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the transaction, the executive vice president now owns 154,577 shares in the company, valued at approximately $4,461,092.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FITB. Janus Henderson Group PLC lifted its holdings in shares of Fifth Third Bancorp by 7,461.4% during the 2nd quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock valued at $197,608,000 after purchasing an additional 7,511,357 shares in the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of Fifth Third Bancorp by 265.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 3,821,186 shares of the financial services provider’s stock valued at $99,198,000 after purchasing an additional 2,775,259 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Fifth Third Bancorp by 97.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,382,624 shares of the financial services provider’s stock valued at $87,813,000 after purchasing an additional 1,670,055 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Fifth Third Bancorp by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock valued at $1,502,604,000 after purchasing an additional 639,361 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Fifth Third Bancorp by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock valued at $269,182,000 after purchasing an additional 431,863 shares in the last quarter. Institutional investors and hedge funds own 83.84% of the company’s stock.

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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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