Fifth Third Bancorp (NASDAQ:FITB) had its price objective hoisted by investment analysts at Wells Fargo & Co from $28.00 to $31.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Wells Fargo & Co‘s price target would indicate a potential upside of 14.64% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Sandler O’Neill upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Jefferies Financial Group upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, March 12th. BidaskClub upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, Barclays boosted their price target on shares of Fifth Third Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $31.60.

Shares of FITB stock traded up $0.47 during midday trading on Tuesday, reaching $27.04. 69,529 shares of the company were exchanged, compared to its average volume of 5,976,165. Fifth Third Bancorp has a 12 month low of $22.12 and a 12 month high of $32.01. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.35. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm earned $0.57 EPS. On average, equities research analysts predict that Fifth Third Bancorp will post 2.77 earnings per share for the current year.

In related news, EVP Frank R. Forrest sold 26,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $26.37, for a total transaction of $685,620.00. Following the transaction, the executive vice president now directly owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Teresa J. Tanner sold 2,918 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $28.75, for a total transaction of $83,892.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,727 shares of company stock worth $2,302,901. 0.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FITB. Meridian Wealth Management LLC acquired a new stake in shares of Fifth Third Bancorp in the first quarter worth $186,000. Marshall Wace North America L.P. acquired a new stake in shares of Fifth Third Bancorp in the first quarter worth $1,327,000. Cerebellum GP LLC acquired a new stake in shares of Fifth Third Bancorp in the first quarter worth $75,000. Advisory Resource Group acquired a new stake in shares of Fifth Third Bancorp in the first quarter worth $1,080,000. Finally, Nordea Investment Management AB lifted its stake in shares of Fifth Third Bancorp by 1.1% in the first quarter. Nordea Investment Management AB now owns 3,748,599 shares of the financial services provider’s stock worth $94,540,000 after buying an additional 39,814 shares during the last quarter. 81.83% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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