November 30, 2016 - By Peter Erickson
They currently have a $26 TP on Fifth Third (NASDAQ:FITB). Wedbush’s target would suggest a potential upside of 2.40% from the company’s previous close. This was disclosed in analysts note on Wednesday, 30 November.
Out of 26 analysts covering Fifth Third (NASDAQ:FITB), 5 rate it a “Buy”, 2 “Sell”, while 19 “Hold”. This means 19% are positive. $25 is the highest target while $16 is the lowest. The $21.38 average target is -15.79% below today’s ($25.39) stock price. Fifth Third has been the topic of 46 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was upgraded by Rafferty to “Buy” on Friday, September 16. Susquehanna downgraded Fifth Third Bancorp (NASDAQ:FITB) on Tuesday, June 7 to “Neutral” rating. The stock of Fifth Third Bancorp (NASDAQ:FITB) has “Perform” rating given on Wednesday, July 6 by Oppenheimer. The stock of Fifth Third Bancorp (NASDAQ:FITB) has “Underperform” rating given on Wednesday, November 16 by Robert W. Baird. The stock has “Outperform” rating given by Oppenheimer on Wednesday, October 21. The firm has “Reduce” rating given on Monday, October 10 by Nomura. As per Thursday, August 20, the company rating was initiated by Sterne Agee CRT. The company was upgraded on Tuesday, March 8 by Stephens. The company was maintained on Friday, May 27 by Jefferies. The rating was upgraded by Wood to “Outperform” on Monday, May 16.
The stock increased 0.04% or $0.01 during the last trading session, hitting $25.39. Fifth Third Bancorp (NASDAQ:FITB) has risen 35.56% since April 27, 2016 and is uptrending. It has outperformed by 30.33% the S&P500.
Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on January, 19. They expect $0.43 earnings per share, up 4.88% or $0.02 from last year’s $0.41 per share. FITB’s profit will be $315.51 million for 14.76 P/E if the $0.43 EPS becomes a reality. After $0.65 actual earnings per share reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts -33.85% negative EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.69 in 2016 Q2. Its down 0.19, from 0.88 in 2016Q1. The ratio turned negative, as 45 funds sold all Fifth Third Bancorp shares owned while 206 reduced positions. 47 funds bought stakes while 174 increased positions. They now own 598.84 million shares or 1.34% less from 606.99 million shares in 2016Q1.
Da Davidson & holds 0.01% or 15,915 shares in its portfolio. Cap Advisory last reported 18,213 shares in the company. Budros Ruhlin Roe accumulated 0.06% or 10,435 shares. Archford Cap Strategies Ltd Llc holds 48 shares or 0% of its portfolio. Oregon Employees Retirement Fund has 167,109 shares for 0.07% of their US portfolio. Gemmer Asset Mgmt Ltd Liability Corp holds 818 shares or 0.01% of its portfolio. Hourglass Capital Limited Liability accumulated 123,300 shares or 0.54% of the stock. Weiss Multi reported 250,732 shares or 0.34% of all its holdings. Jefferies Grp Inc Limited Liability, a New York-based fund reported 37,918 shares. Jfs Wealth Lc has 0.05% invested in the company for 11,096 shares. Motco holds 0% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 280 shares. Fmr Limited Liability Com accumulated 4.38M shares or 0.01% of the stock. Amp Limited reported 688,586 shares or 0.08% of all its holdings. Cubic Asset Mngmt Ltd Llc reported 27,085 shares or 0.16% of all its holdings. California State Teachers Retirement Systems has 1.67 million shares for 0.06% of their US portfolio.
Insider Transactions: Since November 10, 2016, the stock had 0 insider buys, and 10 sales for $4.80 million net activity. CARMICHAEL GREG D also sold $414,807 worth of Fifth Third Bancorp (NASDAQ:FITB) on Thursday, November 10. Forrest Frank R. sold $430,547 worth of Fifth Third Bancorp (NASDAQ:FITB) on Thursday, November 10. 4,000 shares with value of $104,840 were sold by Spence Timothy on Wednesday, November 23. Tanner Teresa J. had sold 3,220 shares worth $82,701. Another trade for 18,619 shares valued at $489,307 was made by McHugh Philip on Wednesday, November 23. 21,708 shares were sold by Leonard James C., worth $510,355 on Thursday, November 10. Borton Chad M also sold $496,341 worth of Fifth Third Bancorp (NASDAQ:FITB) shares.
Fifth Third Bancorp is a bank holding firm and a financial holding company. The company has a market cap of $18.63 billion. The Firm 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. It has a 11.32 P/E ratio. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors.
According to Zacks Investment Research, “Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial, retail and trust banking, data processing services, investment advisory services and leasing activities. In addition, the company provides credit life, accident, health and mortgage insurance, discount brokerage services and property management for its properties.”
Fifth Third Bancorp, incorporated on October 7, 1974, is a bank holding firm and a financial holding company. The Firm 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. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. The Firm diversifies its loan and lease portfolio by offering a range of loan and lease products with various payment terms and rate structures. It offers commercial and industrial loans, commercial mortgage loans, commercial construction loans, commercial leases, residential mortgage loans, home equity, automobile loans, credit card, and other consumer loans and leases. The Firm offers various types of deposits, such as demand deposits, interest checking deposits, savings deposits, money market deposits, transaction deposits and other time deposits. The Company’s total deposits are approximately $103 billion. The Company’s total loans are approximately $93 billion.
More important recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: Businesswire.com which released: “Fifth Third Bancorp Announces Net Exercise of Vantiv Warrant and Associated …” on November 22, 2016, also Streetinsider.com published article titled: “Form 4 FIFTH THIRD BANCORP For: Nov 23 Filed by: Spence Timothy”, Nasdaq.com published: “Fifth Third Bancorp Reaches Analyst Target Price” on November 08, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) was released by: Nasdaq.com and their article: “Strategy To YieldBoost Fifth Third Bancorp From 2% To 12.9% Using Options” with publication date: November 22, 2016.
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