Evercore ISI Issues Positive Forecast for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB) had its target price lifted by equities research analysts at Evercore ISI from $52.00 to $57.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 7.40% from the stock’s previous close.

FITB has been the topic of several other reports. Robert W. Baird boosted their price objective on Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Wolfe Research boosted their target price on shares of Fifth Third Bancorp from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating and set a $60.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday. Barclays boosted their target price on Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, UBS Group reissued a “buy” rating and issued a $59.00 target price on shares of Fifth Third Bancorp in a report on Wednesday. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $56.56.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock traded down $1.02 during trading hours on Thursday, reaching $53.07. 3,297,607 shares of the stock traded hands, compared to its average volume of 14,888,790. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $55.36. The firm has a market capitalization of $35.08 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.06 and a beta of 0.99. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $48.30 and a 200 day moving average price of $45.05.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%.The firm had revenue of $3.82 billion during the quarter. On average, equities research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was 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 in the company, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by company insiders.

Institutional Trading of Fifth Third Bancorp

Hedge funds have recently bought and sold shares of the business. Koshinski Asset Management Inc. lifted its holdings in shares of Fifth Third Bancorp by 3.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after acquiring an additional 206 shares during the period. Keybank National Association OH increased its holdings in Fifth Third Bancorp by 0.3% in the fourth quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock valued at $3,015,000 after buying an additional 214 shares during the last quarter. Austin Private Wealth LLC raised its stake in Fifth Third Bancorp by 2.7% during the fourth quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock valued at $407,000 after buying an additional 228 shares in the last quarter. Wealthquest Corp lifted its holdings in Fifth Third Bancorp by 2.3% during the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock worth $493,000 after buying an additional 244 shares during the last quarter. Finally, Tiemann Investment Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 3.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Fifth Third Bancorp

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.