Fifth Third Bancorp (NASDAQ:FITB) Stock Price Expected to Rise, Stephens Analyst Says

Fifth Third Bancorp (NASDAQ:FITB) had its price target upped by equities research analysts at Stephens from $52.00 to $54.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 12.78% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fifth Third Bancorp in a research note on Wednesday, October 8th. Truist Financial increased their target price on Fifth Third Bancorp from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Evercore ISI lowered their target price on Fifth Third Bancorp from $49.00 to $47.00 in a research note on Thursday, October 30th. Wolfe Research lifted their price target on Fifth Third Bancorp from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, Citigroup increased their price objective on Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.95.

Fifth Third Bancorp Price Performance

FITB opened at $47.88 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $31.65 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99. The stock’s 50 day moving average price is $42.91 and its 200-day moving average price is $42.64. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $47.62.

Fifth Third Bancorp (NASDAQ:FITB) last announced 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 return on equity of 13.41% and a net margin of 18.67%. On average, equities research analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Evan Bayh purchased 3,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was purchased at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Several large investors have recently bought and sold shares of the business. Evolution Wealth Management Inc. purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at about $26,000. Westside Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares during the last quarter. Banque Transatlantique SA bought a new position in Fifth Third Bancorp during the first quarter valued at approximately $27,000. Activest Wealth Management boosted its holdings in Fifth Third Bancorp by 1,043.3% in 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 during the last quarter. Finally, United Community Bank boosted 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. 83.79% of the stock is currently owned by institutional investors.

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.