Fifth Third Bancorp (NASDAQ:FITB) Raised to “Overweight” at Stephens

Fifth Third Bancorp (NASDAQ:FITB) was upgraded by Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat reports. The firm presently has a $52.00 price target on the financial services provider’s stock, up from their prior price target of $49.00. Stephens’ target price indicates a potential upside of 21.16% from the company’s previous close.

FITB has been the subject of several other reports. The Goldman Sachs Group lifted their price objective on Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods boosted their price target on Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, October 7th. TD Cowen upped their price objective on Fifth Third Bancorp from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Robert W. Baird lifted their price objective on Fifth Third Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Finally, Morgan Stanley set a $60.00 target price on shares of Fifth Third Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and a consensus target price of $50.35.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $42.92 on Tuesday. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The stock has a market cap of $28.41 billion, a P/E ratio of 13.33, a PEG ratio of 1.18 and a beta of 0.95. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average of $44.32 and a two-hundred day moving average of $40.79.

Institutional Trading of Fifth Third Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FITB. Evolution Wealth Management Inc. purchased a new position in shares of Fifth Third Bancorp during the 2nd quarter worth about $26,000. HWG Holdings LP acquired a new position in Fifth Third Bancorp during the first quarter worth approximately $27,000. Banque Transatlantique SA purchased a new position in Fifth Third Bancorp during the first quarter worth approximately $27,000. Activest Wealth Management raised its stake in Fifth Third Bancorp by 1,043.3% during the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 626 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Fifth Third Bancorp by 91.3% in the 1st quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

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.