Fifth Third Bancorp (NASDAQ:FITB) received a $34.00 price objective from research analysts at Wedbush in a note issued to investors on Thursday, September 20th. The firm presently has a “buy” rating on the financial services provider’s stock. Wedbush’s price target indicates a potential upside of 26.68% from the stock’s previous close.
Several other research firms also recently issued reports on FITB. BMO Capital Markets cut their price objective on Fifth Third Bancorp from $34.00 to $32.00 and set a “$29.19” rating on the stock in a report on Monday, July 23rd. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Monday, July 16th. Vining Sparks reissued a “buy” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a research note on Thursday, July 19th. Morgan Stanley lowered their target price on Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 18th. Finally, UBS Group raised Fifth Third Bancorp from a “sell” rating to a “neutral” rating and set a $26.00 target price for the company in a research note on Friday, July 20th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $32.69.
Shares of NASDAQ:FITB traded down $0.39 during trading on Thursday, reaching $26.84. The stock had a trading volume of 9,617,059 shares, compared to its average volume of 5,817,386. Fifth Third Bancorp has a 1-year low of $26.32 and a 1-year high of $34.67. The firm has a market capitalization of $18.65 billion, a PE ratio of 10.01, a P/E/G ratio of 1.55 and a beta of 1.27. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88.
Several large investors have recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp purchased a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $103,000. Well Done LLC purchased a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at about $114,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Fifth Third Bancorp by 8,368.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 3,933 shares during the last quarter. Summit Trail Advisors LLC raised its stake in Fifth Third Bancorp by 3,223.6% during the 1st quarter. Summit Trail Advisors LLC now owns 127,661 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 123,820 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at approximately $131,000. 83.91% of the stock is owned by institutional investors and hedge funds.
About Fifth Third Bancorp
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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