Published On: Wed, Sep 14th, 2016

Compass Point Upgrades Fifth Third Bancorp (FITB) to “Buy”

Fifth Third Bancorp (NASDAQ:FITB) was upgraded by Compass Point from a “neutral” rating to a “buy” rating in a research note issued on Wednesday.
Other equities research analysts have also issued reports about the stock. Jefferies Group reaffirmed a “buy” rating and set a $21.00 price target (up from $19.50) on shares of Fifth Third Bancorp in a report on Friday, May 27th. Morgan Stanley lowered shares of Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $21.00 to $20.00 in a report on Tuesday, July 5th. Barclays PLC reissued an “equal weight” rating and set a $21.00 target price on shares of Fifth Third Bancorp in a report on Sunday, July 10th. Wells Fargo & Co. reissued a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, June 4th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and ten have given a buy rating to the stock. Fifth Third Bancorp has an average rating of “Hold” and a consensus price target of $20.15.
Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 20.29 on Wednesday. The stock’s 50 day moving average is $19.49 and its 200 day moving average is $18.15. Fifth Third Bancorp has a 12 month low of $13.84 and a 12 month high of $21.14. The company has a market cap of $15.55 billion, a P/E ratio of 9.88 and a beta of 1.27.

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Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a net margin of 23.36% and a return on equity of 9.25%. During the same quarter last year, the firm posted $0.36 EPS. On average, analysts anticipate that Fifth Third Bancorp will post $1.60 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of FITB. Global X Management Co. LLC raised its position in shares of Fifth Third Bancorp by 117.7% in the second quarter. Global X Management Co. LLC now owns 6,234 shares of the financial services provider’s stock worth $110,000 after buying an additional 3,371 shares in the last quarter. Brick & Kyle Associates raised its position in shares of Fifth Third Bancorp by 46.1% in the first quarter. Brick & Kyle Associates now owns 6,660 shares of the financial services provider’s stock worth $111,000 after buying an additional 2,100 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Fifth Third Bancorp during the first quarter worth $112,000. Advisory Services Network LLC raised its position in shares of Fifth Third Bancorp by 153.2% in the second quarter. Advisory Services Network LLC now owns 6,375 shares of the financial services provider’s stock worth $112,000 after buying an additional 3,857 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its position in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock worth $113,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 80.07% of the company’s stock.
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.

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