Revenue Update on Fifth Third Bancorp(NASDAQ:FITB)

Fifth Third Bancorp(NASDAQ:FITB) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $1.51B. Analysts estimated a revenue of $1.52B. Earnings per share were $0.40. Analysts had estimated an EPS of $0.38.

In a different note, On Jul 6, 2016, Oppenheimer said it Downgrades its rating on Fifth Third Bancorp. The shares have been rated ‘Perform’ by the firm. On Jul 5, 2016, Morgan Stanley said it Downgrades its rating on Fifth Third Bancorp. The shares have been rated ‘Equalweight’ by the firm. On Jun 7, 2016, Susquehanna said it Downgrades its rating on Fifth Third Bancorp. The shares have been rated ‘Neutral’ by the firm. On Jun 6, 2016, Citigroup said it Maintains its rating on Fifth Third Bancorp. In the research note, the firm Raises the price-target to $19.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 27, 2016, Jefferies said it Maintains its rating on Fifth Third Bancorp. In the research note, the firm Raises the price-target to $19.50 per share. The shares have been rated ‘Buy’ by the firm. On May 16, 2016, Keefe Bruyette & Woods said it Upgrades its rating on Fifth Third Bancorp. In the research note, the firm Raises the price-target to $19.00 per share. The shares have been rated ‘Outperform’ by the firm.

Fifth Third Bancorp (FITB) shares turned negative on Thursdays trading session with the shares closing down -0.09 points or -0.47% at a volume of 55,11,893. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19.105. The peak price level was also seen at $19.105 while the days lowest was $18.81. Finally the shares closed at $18.87. The 52-week high of the shares is $21.74 while the 52-week low is $13.84. According to the latest information available, the market cap of the company is $14,487 M.

Several Insider Transactions has been reported to the SEC. On Nov 25, 2015, Frank R. Forrest (EVP & Chief Risk & Credit Off) sold 6,702 shares at $20.47 per share price.Also, 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.

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