Fifth Third Bancorp (NASDAQ:FITB) Price Target Raised to $51.00

Fifth Third Bancorp (NASDAQ:FITB) had its price objective hoisted by research analysts at Keefe, Bruyette & Woods from $45.00 to $51.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 7.78% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Piper Sandler upped their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays increased their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Morgan Stanley lifted their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $44.81.

Fifth Third Bancorp Stock Up 1.0 %

Shares of FITB opened at $47.32 on Wednesday. The firm has a market cap of $31.73 billion, a P/E ratio of 15.72, a PEG ratio of 2.25 and a beta of 1.22. Fifth Third Bancorp has a 12 month low of $30.19 and a 12 month high of $49.07. The stock’s 50 day moving average is $45.07 and its two-hundred day moving average is $41.27. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. Fifth Third Bancorp’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 EPS. Analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC boosted its position in shares of Fifth Third Bancorp by 1.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 222 shares during the period. Transamerica Financial Advisors Inc. boosted its position in shares of Fifth Third Bancorp by 7.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after buying an additional 232 shares during the period. Quent Capital LLC boosted its position in shares of Fifth Third Bancorp by 9.9% during the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after buying an additional 248 shares during the period. Diversified Trust Co grew its stake in shares of Fifth Third Bancorp by 2.6% in the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock valued at $433,000 after buying an additional 259 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in Fifth Third Bancorp by 1.2% during the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 260 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.