Fifth Third Bancorp (NASDAQ:FITB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Fifth Third Bancorp (NASDAQ:FITB) had its price target boosted by research analysts at Keefe, Bruyette & Woods from $45.00 to $51.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 8.40% from the company’s current price.

Several other research firms have also commented on FITB. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays raised their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Citigroup lifted their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.81.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded down $0.52 on Wednesday, reaching $47.05. 2,905,612 shares of the company’s stock traded hands, compared to its average volume of 4,556,624. The stock has a 50 day moving average price of $44.88 and a 200-day moving average price of $41.19. Fifth Third Bancorp has a fifty-two week low of $30.01 and a fifty-two week high of $49.07. The firm has a market cap of $31.55 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 2.28 and a beta of 1.22. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. Equities research analysts predict that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Several large investors have recently added to or reduced their stakes in FITB. OneDigital Investment Advisors LLC boosted its stake in Fifth Third Bancorp by 1.1% during the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. increased its holdings in shares of Fifth Third Bancorp by 7.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after buying an additional 232 shares in the last quarter. Quent Capital LLC boosted its stake in Fifth Third Bancorp by 9.9% in the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 248 shares in the last quarter. Diversified Trust Co lifted its position in Fifth Third Bancorp by 2.6% during the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after buying an additional 259 shares in the last quarter. Finally, Metis Global Partners LLC increased its position in Fifth Third Bancorp by 1.2% in the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock valued at $932,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.