Downgrade Alert for Fifth Third Bancorp (FITB)
Fifth Third Bancorp (NASDAQ:FITB) was downgraded from Strong Buy to Outperform at Raymond James today. The stock closed yesterday at $15.63 on volume of 11.5 million shares, above average daily volume of 8.9 million.
In the past 52 weeks, shares of Fifth Third Bancorp have traded between a low of $12.04 and a high of $16.16 and closed yesterday at $15.63, which is 30% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.
Fifth Third Bancorp (NASDAQ:FITB) has potential upside of 7.4% based on a current price of $15.63 and analysts' consensus price target of $16.78. The stock should discover initial support at its 50-day moving average (MA) of $14.62 and subsequent support at its 200-day MA of $14.31.
Fifth Third Bancorp is a diversified financial services company that operates banking centers in in the Midwestern and Southeastern regions of the United States. The Company's principal businesses include retail banking, commercial banking, investment advisory, and data processing.
SmarTrend is monitoring the recent change of momentum in Fifth Third Bancorp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fifth Third Bancorp in search of a potential trend change.
Keywords: analyst upgrades/downgrades fifth third bancorp