Keefe, Bruyette & Woods Issues Positive Forecast for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $50.00 to $53.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 11.37% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Citigroup raised their target price on Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Piper Sandler increased their target price on shares of Fifth Third Bancorp from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Robert W. Baird boosted their price target on shares of Fifth Third Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Janney Montgomery Scott increased their price objective on shares of Fifth Third Bancorp from $50.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Stephens upped their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.35.

Fifth Third Bancorp Stock Down 0.5%

Shares of FITB opened at $47.59 on Wednesday. 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 firm has a market cap of $31.46 billion, a P/E ratio of 14.21, a PEG ratio of 0.97 and a beta of 0.99. The stock’s 50 day moving average is $43.23 and its two-hundred day moving average is $42.96. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $48.71.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. The company had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. Analysts predict 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, Director Evan Bayh bought 3,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was purchased at an average cost of $41.22 per share, with a total value of $123,660.00. Following the purchase, the director directly owned 84,942 shares of the company’s stock, valued at $3,501,309.24. This trade represents a 3.66% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the sale, the executive vice president owned 129,191 shares in the company, valued at approximately $6,265,763.50. This trade represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FITB. Saranac Partners Ltd purchased a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth $106,000. Allworth Financial LP raised its stake in Fifth Third Bancorp by 6.6% in the third quarter. Allworth Financial LP now owns 13,037 shares of the financial services provider’s stock valued at $581,000 after buying an additional 805 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in Fifth Third Bancorp by 112.3% in the third quarter. Swiss Life Asset Management Ltd now owns 82,210 shares of the financial services provider’s stock valued at $3,662,000 after buying an additional 43,487 shares in the last quarter. Cambria Investment Management L.P. purchased a new stake in Fifth Third Bancorp during the 3rd quarter worth about $9,097,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Fifth Third Bancorp by 28.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 13,318 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 2,944 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

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.