Fifth Third Bancorp (FITB) Coveraged By Argus with $36 Target; Cna Financial Has Trimmed By $1.21 Million Its Walmart (WMT) Holding

June 16, 2018 - By Henry Gaston

Fifth Third Bancorp (NASDAQ:FITB) Logo

Argus analyst has initiated coverage on Fifth Third Bancorp (NASDAQ:FITB) with a $36 price target and “Buy” rating. The price target means a potential upside of 17.38% from firm’s stock close price.

Cna Financial Corp decreased Walmart Inc (WMT) stake by 75.87% reported in 2018Q1 SEC filing. Cna Financial Corp sold 13,746 shares as Walmart Inc (WMT)’s stock declined 11.45%. The Cna Financial Corp holds 4,373 shares with $389,000 value, down from 18,119 last quarter. Walmart Inc now has $246.99B valuation. The stock decreased 0.11% or $0.09 during the last trading session, reaching $83.7. About 12.50M shares traded or 29.32% up from the average. Walmart Inc. (NYSE:WMT) has risen 5.30% since June 16, 2017 and is uptrending. It has underperformed by 7.27% the S&P500. Some Historical WMT News: ; 28/04/2018 – Asda Grew From Humble Roots to Attract Walmart, Sainsbury; 14/03/2018 – Walmart to Offer Home Delivery of Groceries in 100 Cities; 15/03/2018 – WALMART WMT.N IS SUED BY FORMER EXECUTIVE ALLEGING UNLAWFUL CONDUCT IN E-COMMERCE BUSINESS LINKED TO COMPETITION FROM AMAZON.COM AMZN.O — COURT FILING; 29/03/2018 – Carl O’Donnell: Walmart discussing closer ties with Humana, including possible acquisition; 12/04/2018 – EXCLUSIVE-Walmart close to buying majority of India’s Flipkart, deal likely by end-June; 15/03/2018 – Huynh alleges Walmart has been mislabeling products so that third-party vendors were paid lower commissions, among other “violations of the law.”; 04/04/2018 – Flipkart is in advanced talks with Walmart to sell a majority stake to the U.S. retailer, Mint said; 30/04/2018 – Walmart agreed to sell its British unit Asda Group to rival supermarket operator Sainsbury in a deal worth about $10 billion; 09/05/2018 – SoftBank’s Son: Walmart Reached Deal for Control of Flipkart Last Night; 10/04/2018 – Walmart taps Postmates for grocery delivery service

Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on July, 19 before the open. They expect $0.57 EPS, up 23.91% or $0.11 from last year’s $0.46 per share. FITB’s profit will be $390.73 million for 13.45 P/E if the $0.57 EPS becomes a reality. After $0.57 actual EPS reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

The stock decreased 0.55% or $0.17 during the last trading session, reaching $30.67. About 7.50M shares traded or 14.28% up from the average. Fifth Third Bancorp (NASDAQ:FITB) has risen 28.16% since June 16, 2017 and is uptrending. It has outperformed by 15.59% the S&P500. Some Historical FITB News: 30/04/2018 – DadeSystems Announces Strategic Partnership and Equity Investment with Fifth Third; 26/04/2018 – CincinnatiBusCou: EXCLUSIVE: Fifth Third plans 15 new branches, including one in Greater Cincinnati; 21/05/2018 – FIFTH THIRD BANCORP – FOR COST SAVINGS, PERSONNEL REDUCTIONS TO OCCUR PREDOMINANTLY IN NON-CLIENT FACING ROLES; 08/05/2018 – FINRA SANCTIONS FIFTH THIRD FOR COST, FEE DISCLOSURE FAILURES; 17/05/2018 – Speedway Convenience Stores, Fifth Third Bank and Cardtronics Partner to Place Fifth Third Brand on Over 800 ATMs; 21/05/2018 – FIFTH THIRD BANCORP – IDENTIFIED EXPECTED NET COST SAVINGS OF $255 MLN WITH 50% ACHIEVED IN 2019 AND 100% THEREAFTER FROM MB FINANCIAL DEAL; 24/04/2018 – FIFTH THIRD 1Q PROVISION FOR LOAN LOSSES $23M, EST. $77.2M; 21/05/2018 – FIFTH THIRD SEES DEAL ADDING TO OPER EPS IN FIRST YR; 22/05/2018 – KBRA Comments on the Proposed Acquisition of MB Financial, Inc. (MBFI) by Fifth Third Bancorp (FITB); 24/04/2018 – Fifth Third Announces First Quarter 2018 Net Income to Common Shareholders of $689 Million, or $0.97 Per Diluted Share

Fifth Third Bancorp operates as a diversified financial services firm in the United States. The company has market cap of $21.02 billion. It operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending, and Wealth and Asset Management. It has a 10.83 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.

Among 34 analysts covering Fifth Third (NASDAQ:FITB), 7 have Buy rating, 2 Sell and 25 Hold. Therefore 21% are positive. Fifth Third has $37.0 highest and $16 lowest target. $28.95’s average target is -5.61% below currents $30.67 stock price. Fifth Third had 114 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was downgraded by Nomura to “Reduce” on Monday, October 10. BMO Capital Markets maintained Fifth Third Bancorp (NASDAQ:FITB) rating on Friday, July 21. BMO Capital Markets has “Hold” rating and $2800 target. The company was maintained on Tuesday, October 24 by Piper Jaffray. Barclays Capital maintained the shares of FITB in report on Tuesday, January 2 with “Hold” rating. The rating was maintained by Piper Jaffray on Tuesday, August 15 with “Hold”. The firm has “Buy” rating by RBC Capital Markets given on Thursday, July 27. RBC Capital Markets maintained it with “Buy” rating and $37.0 target in Wednesday, January 24 report. The firm has “Market Perform” rating given on Tuesday, April 5 by BMO Capital Markets. Piper Jaffray maintained Fifth Third Bancorp (NASDAQ:FITB) rating on Sunday, September 17. Piper Jaffray has “Hold” rating and $27.0 target. Rafferty upgraded the shares of FITB in report on Friday, September 16 to “Buy” rating.

Since February 5, 2018, it had 0 insider purchases, and 11 sales for $6.84 million activity. ANDERSON LARS C sold $530,570 worth of stock or 16,485 shares. McWilliams Jelena sold $64,436 worth of Fifth Third Bancorp (NASDAQ:FITB) on Wednesday, February 14. Hoover Jewell D sold $119,895 worth of stock or 3,700 shares. $1.18M worth of Fifth Third Bancorp (NASDAQ:FITB) was sold by Leonard James C. on Wednesday, February 21. The insider CARMICHAEL GREG D sold $2.84M. Hazel Mark D sold $644,747 worth of Fifth Third Bancorp (NASDAQ:FITB) on Monday, February 26. 3,000 shares were sold by BRUMBACK EMERSON L, worth $100,316 on Monday, March 5.

More notable recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: Benzinga.com which released: “Fifth Third Is Worth A Premium Despite Sluggish Loan Growth, Argus Says In Bullish Initiation” on June 14, 2018, also Seekingalpha.com with their article: “Fifth Third to take ‘sizeable hit’ from MB Financial purchase: Jefferies” published on May 21, 2018, Seekingalpha.com published: “Fifth Third (FITB) Fifth Third to Acquire MB Financial Conference (Transcript)” on May 22, 2018. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) were released by: Bizjournals.com and their article: “Fifth Third executive to head USF board for another two years” published on June 14, 2018 as well as Nasdaq.com‘s news article titled: “Mid-Day Market Update: Dow Up 300 Points; SenesTech Shares Spike Higher” with publication date: May 21, 2018.

Investors sentiment decreased to 0.72 in 2018 Q1. Its down 0.26, from 0.98 in 2017Q4. It is negative, 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. Monroe Retail Bank Trust Mi reported 0% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Assetmark holds 3,991 shares or 0% of its portfolio. Natl Registered Investment Advisor Incorporated has invested 0.29% in Fifth Third Bancorp (NASDAQ:FITB). Neuberger Berman Group Incorporated Ltd stated it has 0% in Fifth Third Bancorp (NASDAQ:FITB). Denali Advsrs Ltd Llc reported 319,500 shares or 1.63% of all its holdings. The New York-based Maltese Lc has invested 0.43% in Fifth Third Bancorp (NASDAQ:FITB). State Of Alaska Department Of Revenue invested in 112,293 shares. 33,169 were reported by Foster And Motley Inc. The Connecticut-based Benin Management Corporation has invested 0.97% in Fifth Third Bancorp (NASDAQ:FITB). Community Bancshares Na has invested 0% in Fifth Third Bancorp (NASDAQ:FITB). Park Oh holds 59,576 shares. Texas Permanent School Fund, Texas-based fund reported 179,265 shares. Timber Hill Ltd Liability has invested 0.07% in Fifth Third Bancorp (NASDAQ:FITB). Farmers & Merchants Invs invested in 7,290 shares. Asset Mngmt One Com holds 0.08% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 1.17 million shares.

Investors sentiment decreased to 0.88 in 2018 Q1. Its down 0.11, from 0.99 in 2017Q4. It worsened, as 100 investors sold WMT shares while 555 reduced holdings. 128 funds opened positions while 451 raised stakes. 856.22 million shares or 1.10% less from 865.70 million shares in 2017Q4 were reported. Raymond James And Associate reported 1.90 million shares. First Manhattan holds 94,694 shares. Whalerock Point Limited Liability Company reported 0.29% in Walmart Inc. (NYSE:WMT). Arcadia Inv Corp Mi owns 1,969 shares. Aimz Inv Advsr Lc accumulated 20,726 shares. Bellecapital Intll invested 0.72% of its portfolio in Walmart Inc. (NYSE:WMT). Clearbridge Investments Limited Liability Corporation invested in 0.29% or 3.42M shares. Pinnacle Wealth Mgmt Advisory Llc reported 0.7% in Walmart Inc. (NYSE:WMT). Altfest L J Co owns 11,028 shares for 0.42% of their portfolio. Atria Invests Ltd owns 24,488 shares. Horan Capital has invested 3.17% in Walmart Inc. (NYSE:WMT). First Foundation invested 0.03% in Walmart Inc. (NYSE:WMT). Citigroup owns 1.06M shares. Caxton Associates Lp holds 0.05% or 11,637 shares in its portfolio. United Service Automobile Association holds 0.44% or 1.85M shares.

More notable recent Walmart Inc. (NYSE:WMT) news were published by: Seekingalpha.com which released: “Walmart Could Become Casualty Of Trade War” on June 14, 2018, also Seekingalpha.com with their article: “Walmart: Bye Bye Brazil” published on June 05, 2018, Benzinga.com published: “Report: Microsoft, Walmart Collaborate On Checkout-Free Retail Technology” on June 14, 2018. More interesting news about Walmart Inc. (NYSE:WMT) were released by: Bizjournals.com and their article: “Walmart’s Shark Tank: How two Dallas companies landed spots on the retailer’s shelves” published on June 14, 2018 as well as 247Wallst.com‘s news article titled: “General Electric Firms Up Grip as Dow’s Worst-Performing Stock” with publication date: June 16, 2018.

Cna Financial Corp increased General Mtrs Co (NYSE:GM) stake by 150,000 shares to 227,897 valued at $8.28M in 2018Q1. It also upped American Intl Group (NYSE:AIG) stake by 6,575 shares and now owns 45,499 shares. Aetna Inc New (NYSE:AET) was raised too.

Since June 5, 2018, it had 0 insider purchases, and 11 insider sales for $838.36 million activity. Chojnowski David had sold 5,442 shares worth $464,176 on Thursday, June 7. On Thursday, June 7 WALTON S ROBSON sold $127.23M worth of Walmart Inc. (NYSE:WMT) or 1.50 million shares. WALTON JIM C had sold 1.19M shares worth $100.75M. Another trade for 1.11 million shares valued at $92.97M was made by WALTON ALICE L on Monday, June 11. 18,500 shares were sold by Furner John R., worth $1.57 million. 8,005 shares were sold by Canney Jacqueline P, worth $676,503.

Fifth Third Bancorp (NASDAQ:FITB) Institutional Positions Chart

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