Fifth Third Bancorp (NASDAQ:FITB) had its price objective raised by equities research analysts at Morgan Stanley from $30.00 to $34.00 in a report released on Wednesday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 11.66% from the stock’s current price.

Several other brokerages have also weighed in on FITB. Oppenheimer reissued a “hold” rating on shares of Fifth Third Bancorp in a research report on Thursday, December 7th. BMO Capital Markets reissued a “hold” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Friday, December 8th. Nomura increased their price objective on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, September 28th. Robert W. Baird lowered shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a research report on Monday, October 2nd. Finally, Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $28.68.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded up $0.15 during mid-day trading on Wednesday, reaching $30.45. 7,110,400 shares of the company’s stock were exchanged, compared to its average volume of 5,807,832. The firm has a market capitalization of $21,379.11, a PE ratio of 16.83, a P/E/G ratio of 2.52 and a beta of 1.35. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $31.83.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same quarter last year, the company posted $0.65 earnings per share. research analysts expect that Fifth Third Bancorp will post 1.79 EPS for the current fiscal year.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the sale, the executive vice president now directly owns 154,577 shares in the company, valued at $4,461,092.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

A number of institutional investors have recently made changes to their positions in FITB. Commerce Bank boosted its stake in shares of Fifth Third Bancorp by 1.0% in the 2nd quarter. Commerce Bank now owns 16,552 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 166 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in shares of Fifth Third Bancorp by 0.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 32,103 shares of the financial services provider’s stock valued at $833,000 after purchasing an additional 200 shares in the last quarter. Sawtooth Solutions LLC boosted its stake in shares of Fifth Third Bancorp by 4.6% in the 2nd quarter. Sawtooth Solutions LLC now owns 10,531 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 465 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Fifth Third Bancorp by 1.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 38,331 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 612 shares in the last quarter. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Fifth Third Bancorp by 5.6% in the 2nd quarter. Greenwood Capital Associates LLC now owns 12,535 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 660 shares in the last quarter. Hedge funds and other institutional investors own 83.97% of the company’s stock.

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About Fifth Third Bancorp

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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