Fifth Third Bancorp (NASDAQ:FITB) Price Target Raised to $56.25 at Janney Montgomery Scott

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) had its price objective boosted by equities researchers at Janney Montgomery Scott from $51.00 to $56.25 in a report issued on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Janney Montgomery Scott’s price target indicates a potential upside of 8.59% from the company’s current price.

Several other analysts have also weighed in on FITB. Wall Street Zen upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays raised their target price on Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. TD Cowen upped their price target on Fifth Third Bancorp from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Truist Financial increased their price objective on Fifth Third Bancorp from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.06.

View Our Latest Stock Report on FITB

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $51.80 on Wednesday. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $50.68. The company has a market capitalization of $34.24 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.86 and a beta of 0.97. The stock has a 50 day moving average of $46.31 and a two-hundred day moving average of $44.45. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.Fifth Third Bancorp’s quarterly revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 earnings per share. As a group, equities analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were 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 owned 129,191 shares of the company’s stock, valued at $6,265,763.50. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Institutional Trading of Fifth Third Bancorp

Institutional investors have recently made changes to their positions in the business. Westside Investment Management Inc. increased 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 during the last quarter. Harbor Investment Advisory LLC grew its stake in shares of Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after buying an additional 517 shares in the last quarter. Evolution Wealth Management Inc. acquired a new position in Fifth Third Bancorp during the second quarter worth $26,000. United Community Bank raised its position in 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 acquiring an additional 581 shares in the last quarter. Finally, Activest Wealth Management grew its position in shares of Fifth Third Bancorp by 1,043.3% in the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 626 shares during the period. Institutional investors 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:

Fifth Third Bancorp Company Profile

(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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