Fifth Third Bancorp (FITB) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Oct 7, 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 Keefe Bruyette to ” Mkt Perform” on Oct 4, 2016. Fifth Third Bancorp was Upgraded by Rafferty to ” Buy” on Sep 16, 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 opened for trading at $20.25 and hit $20.71 on the upside on Tuesday, eventually ending the session at $20.47, with a gain of 0.59% or 0.12 points. The heightened volatility saw the trading volume jump to 92,47,985 shares. Company has a market cap of $15,688 M.
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 Companys 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.