Jefferies Financial Group Forecasts Strong Price Appreciation for Fifth Third Bancorp (NASDAQ:FITB) Stock

Fifth Third Bancorp (NASDAQ:FITB) had its price target lifted by investment analysts at Jefferies Financial Group from $55.00 to $60.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 19.47% from the stock’s previous close.

FITB has been the subject of several other reports. Truist Financial dropped their target price on shares of Fifth Third Bancorp from $60.00 to $53.00 and set a “buy” rating for the company in a report on Friday, March 13th. Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Evercore dropped their target price on shares of Fifth Third Bancorp from $57.00 to $51.00 in a report on Monday. Citigroup raised their target price on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Finally, Robert W. Baird lifted their price target on shares of Fifth Third Bancorp from $50.00 to $55.00 in a report on Wednesday, December 17th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.41.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $50.22 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $49.04 and a two-hundred day moving average price of $46.64. Fifth Third Bancorp has a twelve month low of $32.79 and a twelve month high of $55.44. The company has a market capitalization of $45.48 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.01 and a beta of 0.95.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FITB. Evolution Wealth Management Inc. acquired a new position in Fifth Third Bancorp during the second quarter valued at approximately $26,000. Westside Investment Management Inc. lifted its position in Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after buying an additional 292 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in Fifth Third Bancorp by 501.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after buying an additional 517 shares in the last quarter. Monetary Solutions Ltd acquired a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $29,000. Finally, United Community Bank lifted its position in Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after buying an additional 581 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Company Profile

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.