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Compass Point Downgrades Fifth Third to “Neutral” (FITB)

By Dividend.com,  October 19, 2012, 09:19:06 AM EDT

Compass Point has downgraded regional bank Fifth Third Bancorp( FITB ) to "Neutral" Friday.

The firm reported that they have downgraded FIT from a "Buy" to "Neutral," and have given the company a price target of $16. This price suggests a 5% increase from the stock's current price of $15.02, and a 20% increase over the stock's YTD price of $12.72.

The downgrade is due to analysts expectations that the company will have difficulty increasing revenue in a low interest rate environment.

Fifth Third shares were down 10 cents, or 0.66% during premarket trading Friday.

The Bottom Line
Shares of Fifth Third Bancorp ( FITB ) have a 2.65% dividend yield, based on last night's closing stock price of $15.12. The stock has technical support in the $13-$14 price area. If the shares can firm up, we see overhead resistance around the $16-$19 price levels.

Fifth Third Bancorp( FITB ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: FITB



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