Fifth Third Bancorp (NASDAQ:FITB) Upgraded at Evercore

Fifth Third Bancorp (NASDAQ:FITB) was upgraded by analysts at Evercore from an “in-line” rating to an “outperform” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $60.00 price objective on the financial services provider’s stock. Evercore’s price target indicates a potential upside of 14.46% from the stock’s current price.

Several other research analysts have also recently weighed in on FITB. DA Davidson upped their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 20th. Morgan Stanley raised their price objective on shares of Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Fifth Third Bancorp from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Argus raised shares of Fifth Third Bancorp to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, TD Cowen initiated coverage on Fifth Third Bancorp in a report on Thursday, October 8th. They set a “buy” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and a consensus target price of $60.82.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $52.42 on Wednesday. Fifth Third Bancorp has a 1 year low of $40.68 and a 1 year high of $59.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $53.26 and its 200-day moving average is $53.02. The firm has a market capitalization of $47.54 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.09 and a beta of 0.97.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Monday, October 19th. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $0.83 by $0.30. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 42.4% compared to the same quarter last year. Sell-side analysts forecast that Fifth Third Bancorp will post 4.10 EPS for the current fiscal year.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently modified their holdings of FITB. Center for Financial Planning Inc. purchased a new stake in shares of Fifth Third Bancorp in the first quarter worth approximately $25,000. Security National Bank of SO Dak purchased a new position in Fifth Third Bancorp during the 2nd quarter valued at $25,000. SouthState Bank Corp boosted its holdings in Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 236 shares during the period. Clearstead Trust LLC bought a new position in Fifth Third Bancorp in the 2nd quarter valued at $29,000. Finally, Sachetta LLC increased its stake in Fifth Third Bancorp by 85.6% in the 1st quarter. Sachetta LLC now owns 735 shares of the financial services provider’s stock worth $34,000 after buying an additional 339 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp News Roundup

Here are the key news stories impacting Fifth Third Bancorp this week:

• Positive Sentiment: Adjusted earnings exceeded expectations. Fifth Third reported third-quarter adjusted EPS of $1.13, well above the $0.83 consensus estimate cited by MarketBeat. Reported net income available to common shareholders was $828 million, while adjusted results benefited from excluding integration and other costs. Fifth Third Bancorp earnings report
• Positive Sentiment: Core banking trends improved. Fully taxable-equivalent net interest income rose 3% sequentially to $2.276 billion, average deposits increased 3% to $238.3 billion, and average loans grew 1%. Fee income also rose year over year, while lower provisions and reduced expenses supported profitability. Fifth Third reports third-quarter net income
• Positive Sentiment: Comerica integration is adding earnings power. Management’s integration efforts helped drive a 42.4% year-over-year increase in revenue, while adjusted pre-provision net revenue rose 8% sequentially. Retail deposits in Dallas and Houston grew more than 20% year over year, highlighting potential expansion benefits. Fifth Third Bancorp long-term investor takeaways
• Positive Sentiment: Analysts remain constructive. Bank of America reiterated a Buy rating with a $63 price target, citing differentiated growth and strong profitability. RBC maintained an Outperform rating and still sees meaningful upside despite reducing its target from $62 to $60. Bank of America reiterates Buy rating
• Neutral Sentiment: Capital and credit metrics were stable. Fifth Third’s CET1 ratio improved to 10.02%, and net charge-offs were 0.31% of average loans. These figures support financial stability but do not represent a major new catalyst.
• Negative Sentiment: Revenue narrowly missed expectations. Quarterly revenue was $3.28 billion versus the $3.34 billion consensus estimate, and reported diluted EPS of $0.90 was slightly below the prior-year $0.91, underscoring the importance of adjusted results.
• Negative Sentiment: Valuation has become a concern after the rally. GuruFocus’s GF Value assessment characterized FITB as overvalued, which could encourage profit-taking if earnings momentum slows. Fifth Third valuation analysis

About Fifth Third Bancorp

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Its principal subsidiary, Fifth Third Bank, provides banking and financial services to individuals, businesses, government entities and institutional clients.

The company’s offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, treasury management, cash management and payment-processing services. Through its wealth and asset management businesses, Fifth Third also provides investment management, brokerage, trust, private banking and financial planning services.

Fifth Third primarily serves customers across the Midwest and Southeast, with a branch and banking-center network spanning states including Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee and West Virginia.