Piper Sandler Issues Positive Forecast for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) had its price objective hoisted by investment analysts at Piper Sandler from $50.00 to $57.00 in a report released on Wednesday,MarketScreener reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 10.03% from the stock’s current price.

Other research analysts have also issued reports about the company. Robert W. Baird boosted their price target on Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Wall Street Zen upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. DA Davidson increased their target price on shares of Fifth Third Bancorp from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $60.00 target price on shares of Fifth Third Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, Royal Bank Of Canada upped their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Check Out Our Latest Research Report on Fifth Third Bancorp

Fifth Third Bancorp Stock Up 3.4%

NASDAQ:FITB opened at $51.80 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $50.68. The company has a 50-day moving average of $46.31 and a 200 day moving average of $44.45. The firm 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 (NASDAQ:FITBGet Free Report) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The company’s revenue was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Insider Activity

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

Institutional Trading of Fifth Third Bancorp

Several institutional investors have recently modified their holdings of FITB. Westside Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 100.0% in the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 292 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in Fifth Third Bancorp by 501.9% in 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 in the last quarter. Evolution Wealth Management Inc. acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth $26,000. United Community Bank grew its holdings in shares of Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares in the last quarter. Finally, Activest Wealth Management raised its position in shares of 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 valued at $28,000 after buying an additional 626 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Key Headlines Impacting Fifth Third Bancorp

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.

Featured Articles

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.