Fifth Third Bancorp (NASDAQ:FITB) Upgraded by Wall Street Zen to “Sell” Rating

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

A number of other equities research analysts also recently issued reports on FITB. Piper Sandler reiterated an “overweight” rating and issued a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. Wells Fargo & Company boosted their price target on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 5th. DA Davidson upped their price target on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Jefferies Financial Group increased their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Finally, Weiss Ratings upgraded Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.41.

Read Our Latest Research Report on FITB

Fifth Third Bancorp Stock Up 1.7%

Shares of NASDAQ:FITB opened at $50.34 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $45.59 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.02 and a beta of 0.95. Fifth Third Bancorp has a 52 week low of $32.79 and a 52 week high of $55.44. The firm has a 50 day simple moving average of $48.65 and a 200 day simple moving average of $46.83.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.87. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Westside Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares in the last quarter. Monetary Solutions Ltd bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $29,000. Leonteq Securities AG bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $30,000. Finally, Reflection Asset Management bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $30,000. Institutional investors own 83.79% of the company’s stock.

Key Headlines Impacting Fifth Third Bancorp

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Fifth Third Bancorp Company Profile

(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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Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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