FY2017 Earnings Forecast for Fifth Third Bancorp (FITB) Issued By Wedbush

FY2017 Earnings Forecast for Fifth Third Bancorp (FITB) Issued By Wedbush

Fifth Third Bancorp (NASDAQ:FITB) – Wedbush lowered their FY2017 earnings per share (EPS) estimates for Fifth Third Bancorp in a research note issued on Tuesday. Wedbush analyst P. Winter now anticipates that the firm will earn $1.73 per share for the year, down from their prior forecast of $1.80. Wedbush has a “Neutral” rating and a $26.00 price objective on the stock. Wedbush also issued estimates for Fifth Third Bancorp’s FY2018 earnings at $1.94 EPS.

Other analysts have also recently issued reports about the company. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, October 4th. Stephens cut Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 5th. Barclays PLC reissued an “equal weight” rating and set a $29.00 price objective (up from $22.00) on shares of Fifth Third Bancorp in a report on Tuesday, January 3rd. Deutsche Bank AG boosted their price objective on Fifth Third Bancorp from $21.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, November 30th. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Fifth Third Bancorp in a report on Monday, October 24th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and six have assigned a buy rating to the company. Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $22.17.

Fifth Third Bancorp (NASDAQ:FITB) traded down 1.273% during mid-day trading on Friday, hitting $26.765. 2,309,241 shares of the company traded hands. Fifth Third Bancorp has a one year low of $13.84 and a one year high of $27.88. The company’s 50-day moving average price is $26.94 and its 200 day moving average price is $22.38. The company has a market capitalization of $20.09 billion, a price-to-earnings ratio of 13.868 and a beta of 1.28.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sirios Capital Management L P purchased a new position in Fifth Third Bancorp during the second quarter valued at $10,693,000. Sadoff Investment Management LLC boosted its position in Fifth Third Bancorp by 2.3% in the third quarter. Sadoff Investment Management LLC now owns 1,132,998 shares of the financial services provider’s stock valued at $23,181,000 after buying an additional 25,950 shares during the last quarter. Convergence Investment Partners LLC boosted its position in Fifth Third Bancorp by 88.2% in the third quarter. Convergence Investment Partners LLC now owns 275,656 shares of the financial services provider’s stock valued at $5,640,000 after buying an additional 129,210 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Fifth Third Bancorp by 0.3% in the second quarter. Deprince Race & Zollo Inc. now owns 3,024,678 shares of the financial services provider’s stock valued at $53,204,000 after buying an additional 8,448 shares during the last quarter. Finally, Commonwealth Equity Services Inc boosted its position in Fifth Third Bancorp by 11.2% in the third quarter. Commonwealth Equity Services Inc now owns 238,143 shares of the financial services provider’s stock valued at $4,872,000 after buying an additional 23,933 shares during the last quarter. Hedge funds and other institutional investors own 82.10% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were given a dividend of $0.14 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, December 28th. This represents a $0.56 annualized dividend and a yield of 2.07%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 28.87%.

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.

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