Fifth Third Bancorp (FITB) Receives $30.50 Average Price Target from Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given a consensus recommendation of “Hold” by the twenty-six brokerages that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.50.

FITB has been the topic of a number of recent research reports. Royal Bank of Canada restated a “buy” rating on shares of Fifth Third Bancorp in a report on Sunday, December 10th. BidaskClub upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Monday, January 8th. Vining Sparks restated a “buy” rating and issued a $35.00 target price on shares of Fifth Third Bancorp in a report on Sunday, January 28th. Finally, Morgan Stanley raised their target price on Fifth Third Bancorp from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th.

In related news, EVP Frank R. Forrest sold 4,836 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $31.90, for a total transaction of $154,268.40. Following the sale, the executive vice president now directly owns 112,474 shares in the company, valued at $3,587,920.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jelena Mcwilliams sold 1,952 shares of Fifth Third Bancorp stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $33.01, for a total value of $64,435.52. Following the sale, the executive vice president now owns 6,034 shares in the company, valued at $199,182.34. The disclosure for this sale can be found here. Insiders have sold 122,086 shares of company stock worth $3,951,344 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Altrinsic Global Advisors LLC lifted its holdings in Fifth Third Bancorp by 6.3% during the fourth quarter. Altrinsic Global Advisors LLC now owns 26,581 shares of the financial services provider’s stock worth $806,000 after acquiring an additional 1,581 shares during the period. Valeo Financial Advisors LLC increased its position in Fifth Third Bancorp by 40.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 6,007 shares of the financial services provider’s stock worth $182,000 after buying an additional 1,737 shares during the last quarter. Creative Planning increased its position in Fifth Third Bancorp by 2.1% in the fourth quarter. Creative Planning now owns 88,715 shares of the financial services provider’s stock worth $2,692,000 after buying an additional 1,793 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Fifth Third Bancorp by 1.6% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 123,778 shares of the financial services provider’s stock worth $3,463,000 after buying an additional 1,900 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Fifth Third Bancorp by 5.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,241 shares of the financial services provider’s stock worth $1,126,000 after buying an additional 1,910 shares during the last quarter. Institutional investors and hedge funds own 84.41% of the company’s stock.

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded down $0.07 during trading on Wednesday, reaching $33.13. The company’s stock had a trading volume of 5,687,447 shares, compared to its average volume of 5,465,345. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.99. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $33.91. The firm has a market capitalization of $23,034.33, a PE ratio of 11.62, a PEG ratio of 1.83 and a beta of 1.36.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a return on equity of 9.65% and a net margin of 27.08%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm posted $0.49 earnings per share. analysts expect that Fifth Third Bancorp will post 2.3 earnings per share for the current fiscal year.

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Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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