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

Fifth Third Bancorp (NASDAQ:FITB) had its target price boosted by Barclays from $51.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target suggests a potential upside of 30.66% from the company’s previous close.

A number of other brokerages have also issued reports on FITB. Citigroup upped their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods increased their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Evercore ISI upped their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler boosted their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.92.

Fifth Third Bancorp Trading Down 0.2 %

NASDAQ FITB opened at $42.86 on Monday. The stock has a market cap of $28.74 billion, a P/E ratio of 14.24, a PEG ratio of 2.18 and a beta of 1.22. The company’s fifty day simple moving average is $45.29 and its 200-day simple moving average is $42.54. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts predict that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of FITB. QRG Capital Management Inc. lifted its position in Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after acquiring an additional 9,444 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Fifth Third Bancorp by 13.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after purchasing an additional 55,081 shares during the period. Icon Wealth Advisors LLC acquired a new position in shares of Fifth Third Bancorp in the third quarter valued at $541,000. First National Trust Co boosted its stake in Fifth Third Bancorp by 44.9% during the third quarter. First National Trust Co now owns 77,099 shares of the financial services provider’s stock worth $3,303,000 after buying an additional 23,890 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Fifth Third Bancorp by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after buying an additional 281,494 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.