Fifth Third (NASDAQ:FITB) Reaching An Inflection Point; Argus Initiates Shares At Buy with $36 target

June 14, 2018 - By Kristen Paramore

Fifth Third Bancorp (NASDAQ:FITB) Logo

Investors sentiment decreased to 0.72 in Q1 2018. Its down 0.26, from 0.98 in 2017Q4. It worsened, as 35 investors sold Fifth Third Bancorp shares while 238 reduced holdings. 56 funds opened positions while 141 raised stakes. 547.18 million shares or 2.75% less from 562.64 million shares in 2017Q4 were reported.

Mariner Limited holds 37,928 shares or 0.04% of its portfolio. Aviva Public Limited Company owns 355,215 shares for 0.07% of their portfolio. Pitcairn owns 60,678 shares. 450 are owned by Monroe Commercial Bank And Tru Mi. 488,937 were accumulated by Hancock Holdg. Benin Corp owns 67,850 shares. M&T Bancorp accumulated 0.01% or 62,718 shares. Alphamark Advisors has 1.85% invested in Fifth Third Bancorp (NASDAQ:FITB) for 136,081 shares. Perigon Wealth Mgmt Limited Liability Corporation holds 0% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 24 shares. 67,230 are held by New Mexico Educational Retirement Board. Boys Arnold Incorporated holds 0.03% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 6,709 shares. Pzena Mngmt Ltd has invested 0.64% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Capwealth Advisors Limited Co reported 0.71% stake. Spectrum Mngmt Group Inc stated it has 62 shares. Fifth Third Fincl Bank stated it has 0.32% in Fifth Third Bancorp (NASDAQ:FITB).

Since February 5, 2018, it had 0 insider purchases, and 11 sales for $6.84 million activity. On Tuesday, February 13 the insider CARMICHAEL GREG D sold $2.84 million. Shares for $100,316 were sold by BRUMBACK EMERSON L. Another trade for 16,485 shares valued at $530,570 was sold by ANDERSON LARS C. Forrest Frank R. sold $960,780 worth of stock or 29,508 shares. The insider Hazel Mark D sold $644,747. Hoover Jewell D sold $119,895 worth of Fifth Third Bancorp (NASDAQ:FITB) on Monday, February 12.

Why Has Argus Given Fifth Third (NASDAQ:FITB) a $36 Price Target

The broker Argus has today began coverage on Fifth Third (NASDAQ:FITB) shares, with a Buy rating, while setting the TP at $36.

Fifth Third Bancorp (NASDAQ:FITB) Ratings Coverage

Among 14 analysts covering Fifth Third Bancorp (NASDAQ:FITB), 2 have Buy rating, 1 Sell and 11 Hold. Therefore 14% are positive. Fifth Third Bancorp has $37.0 highest and $29.0 lowest target. $34.61’s average target is 11.93% above currents $30.92 stock price. Fifth Third Bancorp had 25 analyst reports since December 18, 2017 according to SRatingsIntel. As per Thursday, December 21, the company rating was maintained by Keefe Bruyette & Woods. Keefe Bruyette & Woods maintained the stock with “Hold” rating in Wednesday, April 4 report. BMO Capital Markets maintained the stock with “Hold” rating in Monday, December 18 report. The firm has “Sell” rating given on Tuesday, January 2 by Robert W. Baird. The stock of Fifth Third Bancorp (NASDAQ:FITB) has “Hold” rating given on Wednesday, April 4 by Jefferies. Robert W. Baird maintained the stock with “Sell” rating in Tuesday, April 24 report. Keefe Bruyette & Woods maintained the stock with “Hold” rating in Wednesday, January 24 report. Robert W. Baird upgraded the stock to “Hold” rating in Tuesday, May 22 report. Susquehanna maintained it with “Hold” rating and $30.0 target in Thursday, January 4 report. The firm has “Hold” rating by Susquehanna given on Tuesday, April 24.

The stock decreased 0.74% or $0.23 during the last trading session, reaching $30.92. About 4.20M shares traded. Fifth Third Bancorp (NASDAQ:FITB) has risen 28.16% since June 14, 2017 and is uptrending. It has outperformed by 15.59% the S&P500.

Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on July, 19 before the open. They expect $0.57 earnings per share, up 23.91 % or $0.11 from last year’s $0.46 per share. FITB’s profit will be $390.74 million for 13.56 P/E if the $0.57 EPS becomes a reality. After $0.57 actual earnings per share reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Fifth Third Bancorp operates as a diversified financial services firm in the United States. The company has market cap of $21.20 billion. It operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending, and Wealth and Asset Management. It has a 10.92 P/E ratio. The Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and foreign exchange and international trade finance, derivatives and capital markets services, asset lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

More notable recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: which released: “Fifth Third (FITB) Fifth Third to Acquire MB Financial Conference (Transcript)” on May 22, 2018, also with their article: “Benzinga’s Top Upgrades, Downgrades For June 14, 2018” published on June 14, 2018, published: “3 Low-Cost Bank Stocks Helping to Move the Market Higher” on June 12, 2018. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) were released by: and their article: “Fifth Third to take ‘sizeable hit’ from MB Financial purchase: Jefferies” published on May 21, 2018 as well as‘s news article titled: “Fifth Third executive to head USF board for another two years” with publication date: June 14, 2018.

Fifth Third Bancorp (NASDAQ:FITB) Institutional Positions Chart

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