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

Fifth Third Bancorp (NASDAQ:FITB) had its target price upped by stock analysts at Keefe, Bruyette & Woods from $58.00 to $60.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 3.59% from the company’s current price.

FITB has been the topic of a number of other research reports. Morgan Stanley increased their price target on Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Zacks Research cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Jefferies Financial Group upped their target price on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Wall Street Zen raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Robert W. Baird raised their price target on Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.36.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $57.92 on Monday. The firm has a 50-day moving average price of $53.01 and a two-hundred day moving average price of $50.63. Fifth Third Bancorp has a 12-month low of $40.04 and a 12-month high of $59.50. The company has a market capitalization of $52.49 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.09 and a beta of 0.90. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the business posted $0.88 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the sale, the executive vice president directly owned 189,382 shares in the company, valued at $9,556,215.72. This represents a 9.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Center for Financial Planning Inc. bought a new position in shares of Fifth Third Bancorp in the first quarter worth about $25,000. SouthState Bank Corp boosted its stake in shares of Fifth Third Bancorp by 74.7% in the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings 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 valued at $29,000 after purchasing an additional 517 shares during the last quarter. Monetary Solutions Ltd acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $29,000. Finally, Leonteq Securities AG acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $30,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

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.