Fifth Third Bancorp (FITB) is Downgraded by Nomura to Reduce

Fifth Third Bancorp (FITB) was Downgraded by Nomura to ” Reduce”. Earlier the firm had a rating of “Neutral ” on the company shares. Nomura advised their investors in a research report released on Oct 10, 2016.

Many Wall Street Analysts have commented on Fifth Third Bancorp. Wedbush Initiated Fifth Third Bancorp on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $22.Fifth Third Bancorp was Downgraded by Jefferies to ” Hold” on Oct 7, 2016. Fifth Third Bancorp was Downgraded by Keefe Bruyette to ” Mkt Perform” on Oct 4, 2016.

On the company’s financial health, Fifth Third Bancorp reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.38.Analysts expectations of $ 1514.80.During the same quarter in the previous year, the company posted $0.36 EPS.

Fifth Third Bancorp closed down -0.05 points or -0.24% at $20.69 with 60,15,005 shares getting traded on Friday. Post opening the session at $20.65, the shares hit an intraday low of $20.48 and an intraday high of $20.82 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Nov 25, 2015, Frank R. Forrest (EVP & Chief Risk & Credit Off) sold 6,702 shares at $20.47 per share price. According to the SEC, on Aug 25, 2015, James C. Leonard (SVP & Treasurer) sold 11,803 shares at $20.20 per share price. On Aug 18, 2015, Jewell D Hoover (director) sold 1,420 shares at $21.06 per share price, according to the Form-4 filing with the securities and exchange commission.

Fifth Third Bancorp is a bank holding company. The Company’s subsidiary Fifth Third Bank provide a range of financial products and services to the retail commercial financial governmental educational and medical sectors and credit products such as credit cards installment loans mortgage loans and leases. The Company operates in four business segments: Commercial Banking Branch Banking Consumer Lending and Investment Advisors. Commercial Banking offers credit intermediation cash management and financial services to market businesses and Government and professional customers. Branch Banking provides a range of deposit and loan and lease products to individuals and businesses through approximately 1302 Banking Centers. Consumer Lending includes its mortgage home equity automobile and other indirect lending activities. Investment Advisors provides a range of investment alternatives for individuals companies and not-for-profit organizations.

Fifth Third Bancorp

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