Fifth Third Bancorp (NASDAQ:FITB) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $29.00 target price on the financial services provider’s stock, down from their prior target price of $37.00. Citigroup‘s price objective would indicate a potential upside of 16.89% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th. Wedbush set a $34.00 price objective on shares of Fifth Third Bancorp and gave the company a “buy” rating in a research report on Thursday, September 20th. Nomura raised shares of Fifth Third Bancorp from a “reduce” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $29.00 in a research report on Wednesday, October 24th. They noted that the move was a valuation call. Piper Jaffray Companies set a $31.00 price target on shares of Fifth Third Bancorp and gave the stock a “hold” rating in a research report on Monday, October 29th. Finally, Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.75.

Shares of NASDAQ FITB opened at $24.81 on Wednesday. The firm has a market cap of $16.42 billion, a PE ratio of 9.26, a PEG ratio of 1.28 and a beta of 1.24. Fifth Third Bancorp has a twelve month low of $22.12 and a twelve month high of $34.67. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Fifth Third Bancorp had a net margin of 28.89% and a return on equity of 11.74%. During the same period last year, the firm posted $1.35 earnings per share. As a group, equities analysts anticipate that Fifth Third Bancorp will post 2.55 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rational Advisors LLC increased its position in Fifth Third Bancorp by 244.7% in the 3rd quarter. Rational Advisors LLC now owns 3,588 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 2,547 shares during the period. Centaurus Financial Inc. bought a new position in Fifth Third Bancorp during the second quarter worth $131,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Fifth Third Bancorp by 79.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,128 shares of the financial services provider’s stock worth $199,000 after buying an additional 3,148 shares during the last quarter. Private Advisor Group LLC bought a new position in Fifth Third Bancorp during the third quarter worth $210,000. Finally, Cozad Asset Management Inc. acquired a new position in Fifth Third Bancorp in the second quarter valued at $211,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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