Fifth Third Bancorp (NASDAQ:FITB) Given New $56.25 Price Target at Janney Montgomery Scott

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) had its price target boosted by equities researchers at Janney Montgomery Scott from $51.00 to $56.25 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Janney Montgomery Scott’s target price suggests a potential upside of 8.59% from the company’s current price.

Several other analysts have also issued reports on the company. TD Cowen increased their price objective on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Truist Financial raised their price target on Fifth Third Bancorp from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. 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. UBS Group upgraded shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Tuesday, January 6th. Finally, Wolfe Research increased their price target on shares of Fifth Third Bancorp from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.06.

View Our Latest Analysis on Fifth Third Bancorp

Fifth Third Bancorp Trading Up 3.4%

NASDAQ:FITB opened at $51.80 on Wednesday. The stock has a market cap of $34.24 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $50.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50-day moving average is $46.31 and its two-hundred day moving average is $44.45.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its quarterly earnings data 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. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The firm’s revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, equities research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jude Schramm sold 2,250 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the transaction, the executive vice president directly owned 129,191 shares in the company, valued at approximately $6,265,763.50. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in FITB. Austin Private Wealth LLC boosted its stake in Fifth Third Bancorp by 2.7% during the 4th quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock valued at $407,000 after purchasing an additional 228 shares during the period. Wealthquest Corp boosted its position in shares of Fifth Third Bancorp by 2.3% in the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 244 shares during the period. Tiemann Investment Advisors LLC boosted its position in shares of Fifth Third Bancorp by 3.9% in the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 250 shares during the period. Capital Investment Advisory Services LLC grew its stake in shares of Fifth Third Bancorp by 1.1% in the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock worth $1,011,000 after acquiring an additional 251 shares during the last quarter. Finally, CENTRAL TRUST Co increased its position in Fifth Third Bancorp by 4.1% during the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 260 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp News Summary

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.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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