Fifth Third Bancorp (NASDAQ:FITB) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) had its price objective raised by research analysts at Royal Bank Of Canada from $52.00 to $57.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target points to a potential upside of 10.03% from the company’s current price.

FITB has been the subject of several other reports. Stephens increased their price objective on Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Truist Financial lifted their price target on shares of Fifth Third Bancorp from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. DA Davidson lifted their target price on shares of Fifth Third Bancorp from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Citigroup upped their price objective on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, Janney Montgomery Scott upped their target price on shares of Fifth Third Bancorp from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. One research 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

View Our Latest Stock Analysis on FITB

Fifth Third Bancorp Stock Performance

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

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.08. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the business posted $0.85 EPS. Fifth Third Bancorp’s revenue for the quarter was up 63.1% compared to the same quarter last year. On average, equities analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Institutional investors have recently made changes to their positions in the company. Unison Advisors LLC boosted its stake in Fifth Third Bancorp by 0.9% in the fourth quarter. Unison Advisors LLC now owns 106,309 shares of the financial services provider’s stock valued at $5,019,000 after acquiring an additional 924 shares during the period. Secure Asset Management LLC boosted its position in Fifth Third Bancorp by 4.4% during the 4th quarter. Secure Asset Management LLC now owns 42,886 shares of the financial services provider’s stock valued at $2,007,000 after purchasing an additional 1,791 shares during the period. Austin Private Wealth LLC increased its position in Fifth Third Bancorp by 2.7% in the fourth quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock worth $407,000 after buying an additional 228 shares during the period. Signaturefd LLC lifted its position in Fifth Third Bancorp by 13.8% in the 4th quarter. Signaturefd LLC now owns 14,171 shares of the financial services provider’s stock valued at $663,000 after purchasing an additional 1,717 shares during the last quarter. Finally, Savvy Advisors Inc. bought a new position in Fifth Third Bancorp in the 4th quarter worth about $379,000. 83.79% of the stock is currently owned by institutional investors.

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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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