Fifth Third Bancorp (NASDAQ:FITB) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Key Points

• Robert W. Baird raised its price target on Fifth Third Bancorp (FITB) to $56 from $55 and kept an outperform rating, implying about a 9.9% upside; the consensus across analysts is a Moderate Buy with an average target of $56.56 (1 Strong Buy, 17 Buy, 3 Hold).
• Fifth Third beat quarterly EPS expectations with $0.83 versus a consensus of -$0.04, though revenue of $2.86B slightly missed estimates of $2.91B; the quarter showed a 12.39% return on equity and a 15.89% net margin.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) had its price target upped by stock analysts at Robert W. Baird from $55.00 to $56.00 in a report issued on Monday,MarketScreener reports. The firm currently has an "outperform" rating on the financial services provider's stock. Robert W. Baird's target price would suggest a potential upside of 9.86% from the company's previous close.

Several other research analysts also recently commented on the company. Wolfe Research reduced their price objective on Fifth Third Bancorp from $57.00 to $55.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. 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. TD Cowen reaffirmed a "buy" rating and set a $60.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd. Truist Financial lowered their target price on Fifth Third Bancorp from $60.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Finally, Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $53.00 to $55.00 and gave the company a "market perform" rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.56.

Fifth Third Bancorp Price Performance

Shares of FITB traded up $0.64 during mid-day trading on Monday, hitting $50.98. 589,653 shares of the company were exchanged, compared to its average volume of 11,581,651. The stock has a market cap of $46.16 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. Fifth Third Bancorp has a 1-year low of $32.79 and a 1-year high of $55.44. The company has a 50 day moving average of $48.65 and a 200-day moving average of $46.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.87. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the previous year, the business earned $0.71 EPS. Analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Westside Investment Management Inc. lifted its holdings in shares of 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 worth $26,000 after acquiring an additional 292 shares during the last quarter. Harbor Investment Advisory LLC raised its position in Fifth Third Bancorp by 501.9% in the fourth 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 during the period. Monetary Solutions Ltd acquired a new position in Fifth Third Bancorp during the fourth quarter worth $29,000. United Community Bank boosted its position in shares of Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider's stock worth $30,000 after buying an additional 581 shares during the period. Finally, Leonteq Securities AG acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

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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