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

Key Points

• Wolfe Research has raised the target price for Fifth Third Bancorp from $52.00 to $53.00, signaling a potential upside of 28.73% from the current price.
• Several analysts have revised their ratings and price targets for the stock, with most showing optimistic views, as evidenced by an average rating of "Moderate Buy" and an average price target of $50.45.
• Institutional investors hold approximately 83.79% of Fifth Third Bancorp's stock, indicating strong support from hedge funds and investment firms.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) had its target price increased by investment analysts at Wolfe Research from $52.00 to $53.00 in a report issued on Monday,MarketScreener reports. The firm currently has an "outperform" rating on the financial services provider's stock. Wolfe Research's target price would indicate a potential upside of 28.73% from the stock's current price.

Several other equities research analysts also recently weighed in on the company. DA Davidson increased their price objective on Fifth Third Bancorp from $47.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Evercore ISI upped their price objective on shares of Fifth Third Bancorp from $45.00 to $49.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. Piper Sandler dropped their price target on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Janney Montgomery Scott raised their price target on Fifth Third Bancorp from $50.00 to $51.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Finally, UBS Group increased their price objective on Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Fifth Third Bancorp currently has an average rating of "Moderate Buy" and an average price target of $50.45.

Fifth Third Bancorp Trading Up 0.7%

Shares of Fifth Third Bancorp stock opened at $41.17 on Monday. The company has a fifty day simple moving average of $44.29 and a 200-day simple moving average of $40.85. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. The stock has a market cap of $27.25 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.11 and a beta of 0.95.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds have recently modified their holdings of the stock. Tiemann Investment Advisors LLC boosted its stake in shares of Fifth Third Bancorp by 3.9% in the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider's stock valued at $276,000 after buying an additional 250 shares during the period. CENTRAL TRUST Co increased its holdings in Fifth Third Bancorp by 4.1% in the 2nd quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider's stock valued at $272,000 after buying an additional 260 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Fifth Third Bancorp by 11.9% during the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider's stock worth $102,000 after acquiring an additional 263 shares during the period. Trust Co. of Vermont boosted its position in shares of Fifth Third Bancorp by 17.9% during the 3rd quarter. Trust Co. of Vermont now owns 1,761 shares of the financial services provider's stock worth $78,000 after acquiring an additional 267 shares in the last quarter. Finally, HBK Sorce Advisory LLC increased its stake in Fifth Third Bancorp by 0.7% in the third quarter. HBK Sorce Advisory LLC now owns 36,083 shares of the financial services provider's stock valued at $1,549,000 after acquiring an additional 267 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

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