Fifth Third Bancorp (NASDAQ:FITB) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently weighed in on FITB. Keefe, Bruyette & Woods boosted their price target on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. The Goldman Sachs Group started coverage on shares of Fifth Third Bancorp in a report on Tuesday, April 7th. They issued a “buy” rating and a $55.00 price target on the stock. Wells Fargo & Company boosted their price objective on Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Royal Bank Of Canada boosted their price objective on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, DA Davidson boosted their price objective on Fifth Third Bancorp from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $56.41.

View Our Latest Research Report on Fifth Third Bancorp

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $50.34 on Friday. The company’s 50-day moving average is $48.65 and its 200 day moving average is $46.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $45.59 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. Fifth Third Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.87. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period in the previous year, the firm earned $0.71 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Institutional Investors Weigh In On Fifth Third Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in shares of Fifth Third Bancorp by 7.1% during the first quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after buying an additional 916 shares during the period. Woodline Partners LP grew its stake in Fifth Third Bancorp by 40.5% during the first quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock valued at $2,218,000 after acquiring an additional 16,323 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Fifth Third Bancorp by 45.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,428 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 759 shares in the last quarter. Brown Advisory Inc. grew its stake in Fifth Third Bancorp by 5.0% during the second quarter. Brown Advisory Inc. now owns 10,252 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 484 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in Fifth Third Bancorp during the second quarter valued at approximately $968,000. 83.79% of the stock is currently owned by institutional investors.

Key Headlines Impacting Fifth Third Bancorp

Here are the key news stories impacting Fifth Third Bancorp this week:

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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