Fifth Third Bancorp (NASDAQ:FITB) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts' consensus: Twenty analysts give Fifth Third Bancorp a consensus rating of "Moderate Buy" (17 buys, 3 holds) with an average 12‑month price target of $56.56.
• Several major brokers recently raised ratings/targets — Barclays to $61, UBS to $59, Piper Sandler to $57 and Weiss upgraded to buy — while the stock traded around $43.40, indicating potential upside to analyst estimates.
• Institutional interest: About 83.79% of the stock is held by institutions, and multiple asset managers increased their positions in the most recent quarter.

Shares of Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $56.5625.

FITB has been the topic of several research analyst reports. Citigroup boosted their price objective on Fifth Third Bancorp from $50.00 to $53.00 and gave the company a "neutral" rating in a report on Friday, January 23rd. UBS Group reaffirmed a "buy" rating and issued a $59.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Weiss Ratings upgraded shares of Fifth Third Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 26th. Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, January 5th. Finally, Piper Sandler raised their price objective on shares of Fifth Third Bancorp from $50.00 to $57.00 and gave the company an "overweight" rating in a research note on Wednesday, January 21st.

Fifth Third Bancorp Stock Down 0.4%

Shares of FITB opened at $43.40 on Friday. The company's 50-day moving average price is $50.45 and its 200 day moving average price is $46.59. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $55.44. 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 market cap of $39.30 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.88 and a beta of 0.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC boosted its position in Fifth Third Bancorp by 4.7% during the third quarter. AE Wealth Management LLC now owns 348,001 shares of the financial services provider's stock worth $15,503,000 after purchasing an additional 15,627 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in Fifth Third Bancorp by 18.0% in the third quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider's stock valued at $7,189,000 after purchasing an additional 24,566 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Fifth Third Bancorp by 2.4% in the third quarter. Envestnet Asset Management Inc. now owns 2,023,145 shares of the financial services provider's stock valued at $90,131,000 after buying an additional 48,080 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Fifth Third Bancorp in the third quarter valued at $1,314,000. Finally, Westfield Capital Management Co. LP raised its stake in shares of Fifth Third Bancorp by 26.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,619,948 shares of the financial services provider's stock worth $72,169,000 after buying an additional 340,030 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

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.

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