Fifth Third Bancorp (NASDAQ:FITB) Rating Reiterated by Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. reiterated their hold rating on shares of Fifth Third Bancorp (NASDAQ:FITB) in a research report released on Saturday, July 22nd.

FITB has been the subject of several other reports. Compass Point upgraded shares of Fifth Third Bancorp from a neutral rating to a buy rating in a research report on Wednesday, March 29th. They noted that the move was a valuation call. Jefferies Group LLC restated a hold rating and issued a $28.00 target price on shares of Fifth Third Bancorp in a research report on Friday, July 14th. BidaskClub upgraded shares of Fifth Third Bancorp from a sell rating to a hold rating in a research report on Saturday, June 10th. Piper Jaffray Companies dropped their target price on shares of Fifth Third Bancorp from $29.00 to $28.00 and set a neutral rating for the company in a research report on Tuesday, April 11th. Finally, Royal Bank Of Canada restated a buy rating and issued a $28.00 target price on shares of Fifth Third Bancorp in a research report on Thursday, May 18th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have given a buy rating to the company’s stock. Fifth Third Bancorp presently has an average rating of Hold and a consensus target price of $26.54.

Fifth Third Bancorp (FITB) traded up 0.27% during trading on Friday, reaching $26.33. The company had a trading volume of 8,551,131 shares. The company has a 50-day moving average of $26.46 and a 200-day moving average of $25.73. Fifth Third Bancorp has a 52-week low of $19.34 and a 52-week high of $28.97. The firm has a market capitalization of $19.40 billion, a P/E ratio of 13.35 and a beta of 1.37.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. Analysts expect that Fifth Third Bancorp will post $1.82 EPS for the current fiscal year.

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Fifth Third Bancorp announced that its board has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.16 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 67% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

A number of hedge funds have recently bought and sold shares of FITB. BlackRock Inc. increased its stake in Fifth Third Bancorp by 3,239.3% in the first quarter. BlackRock Inc. now owns 48,949,216 shares of the financial services provider’s stock worth $1,243,309,000 after buying an additional 47,483,352 shares during the period. Janus Henderson Group PLC raised its position in shares of Fifth Third Bancorp by 7,461.4% in the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after buying an additional 7,511,357 shares in the last quarter. Janus Capital Management LLC raised its position in shares of Fifth Third Bancorp by 622.7% in the first quarter. Janus Capital Management LLC now owns 6,555,529 shares of the financial services provider’s stock worth $166,511,000 after buying an additional 5,648,401 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Fifth Third Bancorp by 87.1% in the first quarter. AQR Capital Management LLC now owns 9,305,491 shares of the financial services provider’s stock worth $236,360,000 after buying an additional 4,332,945 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its position in shares of Fifth Third Bancorp by 265.3% in the second quarter. Balyasny Asset Management LLC now owns 3,821,186 shares of the financial services provider’s stock worth $99,198,000 after buying an additional 2,775,259 shares in the last quarter. Institutional investors and hedge funds own 81.26% 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.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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