Wolfe Research Issues Positive Forecast for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) had its price target boosted by analysts at Wolfe Research from $55.00 to $57.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Wolfe Research’s price target suggests a potential upside of 10.03% from the stock’s previous close.

A number of other research firms have also weighed in on FITB. Robert W. Baird lifted their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 in a research note on Wednesday, December 17th. Cowen reaffirmed a “buy” rating on shares of Fifth Third Bancorp in a report on Wednesday, January 7th. DA Davidson boosted their price objective on Fifth Third Bancorp from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their target price on Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Wall Street Zen upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.06.

Read Our Latest Research Report on Fifth Third Bancorp

Fifth Third Bancorp Trading Up 3.4%

Shares of Fifth Third Bancorp stock opened at $51.80 on Wednesday. The company has a market capitalization of $34.24 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. The stock has a fifty day simple moving average of $46.31 and a 200 day simple moving average of $44.45. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $50.68. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the business posted $0.85 earnings per share. Fifth Third Bancorp’s revenue was up 63.1% on a year-over-year basis. On average, sell-side analysts anticipate 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 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 transaction, the executive vice president owned 129,191 shares in the company, valued at $6,265,763.50. The trade was a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Hedge funds have recently made changes to their positions in the stock. Westside Investment Management Inc. raised its holdings in Fifth Third Bancorp by 100.0% in the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 292 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 517 shares in the last quarter. Evolution Wealth Management Inc. purchased a new stake in Fifth Third Bancorp during the second quarter valued at approximately $26,000. United Community Bank grew its holdings in Fifth Third Bancorp by 581.0% in the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 581 shares during the last quarter. Finally, Activest Wealth Management increased its position in shares of Fifth Third Bancorp by 1,043.3% during the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 626 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Key Fifth Third Bancorp News

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.