Fifth Third cut to Equal Weight at Stephens after years-long outperformance

seekingalpha03-19

Stephens downgraded Fifth Third Bancorp (NASDAQ:FITB) to Equal Weight from Overweight on Tuesday after its shares outperformed those of its peers in recent years, as the company's return on tangible ...

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Since the start of 2018, Fifth Third (FITB) shares have risen 16%, compared with the KBW Nasdaq Regional Banking Index's (KRX) 14% decline during the same period. He also noted that the bank's low levels of commercial real estate loans have also contributed to the sentiment. \"At a recent industry conference, management commented positively on Q124 results, removing a near-term catalyst,\" analyst Terry McEvoy wrote in a note to clients. \"Following the successful re-rating of FITB valuation over the last decade, shares are at a healthy premium (9.8x 2025 EPS and 2x TBV),\" McEvoy said. Thus, he expects Fifth Third (FITB) \"will maintain its fundamental ranking among peers but see less upside in price.\" The Equal Weight rating contrasts with the SA Quant rating of Strong Buy and the average Wall Street rating of Buy, but aligns with the average SA Analyst rating of Hold.  More on Fifth Third Bancorp  Fifth Third Bancorp: Holding On To Strong Fundamentals Despite Regional Banking Headwinds Fifth Third Q4 Earnings: Buybacks Coming Sooner Than Expected Fifth Third Bancorp (FITB) Q4 2023 Earnings Call Transcript Bank regulators are expected to lighten burden of Basel endgame proposal - report","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2420276000"}