Economy

Fifth Third Bancorp (FITB) to Release Earnings on Tuesday

Fifth Third Bancorp (NASDAQ:FITB)'s stock had its "hold" rating reissued by analysts at BMO Capital Markets in a research note issued to investors on Thursday, October 5th. It has been assigned a low target price of $24 and a high target price of $31.

An earnings forecast is an analyst's outlook for a company's future quarterly or annual earnings. Morgan Stanley reiterated an "equal weight" rating and set a $28.00 price objective (up from $26.00) on shares of Fifth Third Bancorp in a report on Thursday, July 6th. Finally, Oppenheimer Holdings, Inc. reiterated a "hold" rating on shares of Fifth Third Bancorp in a report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the company's stock.

The price target set for the stock is $37.50 and this sets up an interesting set of potential movement for the stock, according to data from Finviz's Research.

According to Fifth Third Bancorp's Insider ownership is at 0.30%. 7,080,182 shares of the company's stock were exchanged. The stock stands almost -6.81% off versus the 52-week high and 47.67% away from the 52-week low.

This particular stock's 5-day moving average is 28.25, its 20-day moving average is 27.83 and its 100-day moving average is 26.26. During the same period in the prior year, the company posted $0.40 EPS.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.38. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. Analysts are forecasting earnings of $0.47 on a per share basis this quarter. During the same period a year ago, the firm posted $0.40 earnings per share. The number of shares now owned by investors are 244.41 mln.

Artisan Partners Limited Partnership decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.0% during the first quarter, Holdings Channel reports. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

A stock rating usually tells investors how well a stock's market value relates to what analysts think is a fair value for the stock, based on an independent evaluation of the company. If you are viewing this piece of content on another website, it was stolen and republished in violation of USA and worldwide trademark and copyright law. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/10/16/fifth-third-bancorp-fitb-downgraded-by-zacks-investment-research.html.

The top 5 institutional holders, in ascending order, are as follows: PRICE T ROWE ASSOCIATES INC /MD/ with 60.08 million shares, VANGUARD GROUP INC with 57.88 million shares, BLACKROCK INC. with 47.49 million shares, INVESCO LTD. with 41.23 million shares, and STATE STREET CORP with 40.46 million shares. The stock was sold at an average price of $24.90, for a total transaction of $647,649.00. The total amount of shares outstanding is 739.09 million, giving the company a market capitalization of about 20.74 billion. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.14. Fifth Third Bancorp earned a coverage optimism score of 0.14 on Accern's scale. The shares price has positioned 7.26% up over the past quarter while it has directed 15.00% toward a rising position throughout past six months.

In related news, CAO Teresa J. Tanner sold 54,984 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, April 27th. Artisan Partners Limited Partnership's holdings in Fifth Third Bancorp were worth $158,702,000 as of its most recent SEC filing. Finally, Capital Fund Management S.A. grew its position in Fifth Third Bancorp by 69.8% during the second quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider's stock valued at $142,000 after buying an additional 298 shares in the last quarter.



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