Fifth Third Bancorp (NASDAQ:FITB) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Fifth Third Bancorp (NASDAQ:FITB) had its price objective boosted by equities research analysts at Morgan Stanley from $60.00 to $67.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 33.93% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. UBS Group reiterated a “buy” rating and set a $59.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, February 4th. Wolfe Research lifted their price objective on shares of Fifth Third Bancorp from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Argus lifted their price target on Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Jefferies Financial Group boosted their target price on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.91.

Fifth Third Bancorp Stock Up 1.1%

Shares of Fifth Third Bancorp stock traded up $0.56 during trading hours on Monday, reaching $50.03. 3,487,245 shares of the company’s stock were exchanged, compared to its average volume of 13,285,682. The stock has a market cap of $33.07 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.00 and a beta of 0.96. The company has a 50 day moving average of $50.59 and a two-hundred day moving average of $46.36. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%.The business had revenue of $3.82 billion for the quarter. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Insider Activity

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in FITB. Westside Investment Management Inc. lifted its stake in Fifth Third Bancorp by 100.0% in 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 during the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 517 shares during the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $29,000. Leonteq Securities AG bought a new stake in Fifth Third Bancorp during the 4th quarter worth $30,000. Finally, Evolution Wealth Management Inc. bought a new position in Fifth Third Bancorp in the second quarter valued at about $26,000. 83.79% of the stock is owned by institutional investors.

About Fifth Third Bancorp

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.