Fifth Third Bancorp (NASDAQ:FITB) Price Target Raised to $55.00

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $53.00 to $55.00 in a report issued on Wednesday,MarketScreener reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 6.17% from the stock’s current price.

Several other equities analysts also recently commented on FITB. Royal Bank Of Canada increased their target price on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 19th. Evercore ISI set a $52.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, January 6th. DA Davidson upped their price target on shares of Fifth Third Bancorp from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $60.00 price objective on Fifth Third Bancorp and gave the company an “overweight” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Get Our Latest Stock Analysis on FITB

Fifth Third Bancorp Trading Up 3.4%

FITB opened at $51.80 on Wednesday. The company has a market cap of $34.24 billion, a P/E ratio of 15.42, a PEG ratio of 0.86 and a beta of 0.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $46.31 and its 200-day moving average is $44.45. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $50.68.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.00 by $0.08. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The firm’s revenue was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. Equities research analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the sale, the executive vice president directly owned 129,191 shares of the company’s stock, valued at $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds have recently bought and sold shares of FITB. Vanguard Group Inc. boosted its holdings in Fifth Third Bancorp by 1.6% during the second quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock worth $3,448,743,000 after purchasing an additional 1,301,624 shares during the last quarter. Capital World Investors grew its holdings in shares of Fifth Third Bancorp by 6.2% in the third quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider’s stock valued at $1,373,490,000 after acquiring an additional 1,803,861 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Fifth Third Bancorp by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 23,306,918 shares of the financial services provider’s stock worth $958,614,000 after acquiring an additional 398,517 shares during the period. Invesco Ltd. boosted its position in Fifth Third Bancorp by 2.6% in the third quarter. Invesco Ltd. now owns 21,224,600 shares of the financial services provider’s stock worth $945,556,000 after purchasing an additional 546,914 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Fifth Third Bancorp by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 18,008,755 shares of the financial services provider’s stock valued at $737,728,000 after purchasing an additional 619,956 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Fifth Third Bancorp

Here are the key news stories impacting Fifth Third Bancorp this week:

About Fifth Third Bancorp

(Get Free Report)

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

Featured Articles

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.