Fifth Third Bancorp (NASDAQ:FITB) Stock Rating Reaffirmed by Stephens

Fifth Third Bancorp (NASDAQ:FITBGet Free Report)‘s stock had its “equal weight” rating reissued by investment analysts at Stephens in a report issued on Tuesday, Marketbeat reports. They presently have a $41.00 target price on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 14.62% from the company’s previous close.

A number of other equities analysts have also commented on FITB. Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods cut shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $33.00 to $37.00 in a research report on Tuesday, January 9th. Barclays boosted their target price on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. UBS Group boosted their target price on shares of Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.30.

Read Our Latest Analysis on Fifth Third Bancorp

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $35.77 on Tuesday. The company has a fifty day moving average price of $34.50 and a two-hundred day moving average price of $30.27. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $24.37 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.34 and a beta of 1.26. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.03.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same quarter last year, the company posted $1.04 EPS. As a group, equities analysts predict that Fifth Third Bancorp will post 3.18 EPS for the current year.

Insiders Place Their Bets

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of FITB. Capital World Investors raised its stake in shares of Fifth Third Bancorp by 34.2% during the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after acquiring an additional 10,472,392 shares in the last quarter. Norges Bank purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth $257,189,000. BlackRock Inc. boosted its holdings in Fifth Third Bancorp by 6.2% in the first quarter. BlackRock Inc. now owns 58,769,408 shares of the financial services provider’s stock valued at $1,565,617,000 after acquiring an additional 3,448,642 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Fifth Third Bancorp by 35.9% in the second quarter. Franklin Resources Inc. now owns 12,057,866 shares of the financial services provider’s stock valued at $316,037,000 after acquiring an additional 3,182,756 shares in the last quarter. Finally, Boston Partners boosted its holdings in Fifth Third Bancorp by 32.1% in the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock valued at $331,188,000 after acquiring an additional 3,176,903 shares in the last quarter. 77.96% of the stock is owned by hedge funds and other institutional investors.

About Fifth Third Bancorp

(Get Free Report)

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.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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