Fifth Third Bancorp's (FITB) "Outperform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed an "Outperform" rating on Fifth Third with a $57 price target, implying roughly 14.85% upside from the prior close.
• Analyst consensus is a Moderate Buy (1 Strong Buy, 17 Buy, 3 Hold) with an average target of $57.19, indicating generally positive sentiment across firms.
• Fifth Third reported $0.83 EPS (beating estimates by $0.87); the stock trades near $49.63 with a P/E of 16.66 and a 52‑week range of $36.55–$55.44.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Royal Bank Of Canada in a report issued on Monday,Benzinga reports. They currently have a $57.00 price target on the financial services provider's stock. Royal Bank Of Canada's price objective indicates a potential upside of 14.85% from the stock's previous close.

A number of other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $53.00 to $55.00 and gave the company a "market perform" rating in a research note on Wednesday, January 21st. TD Cowen restated a "buy" rating and set a $60.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, February 3rd. Robert W. Baird raised their target price on Fifth Third Bancorp from $55.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Evercore raised their target price on Fifth Third Bancorp from $51.00 to $53.00 in a research report on Tuesday, April 21st. Finally, UBS Group restated a "buy" rating and set a $59.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $57.19.

Fifth Third Bancorp Stock Performance

FITB stock traded down $0.80 during midday trading on Monday, reaching $49.63. The stock had a trading volume of 1,121,338 shares, compared to its average volume of 10,865,735. The stock has a market cap of $44.94 billion, a PE ratio of 16.66, a P/E/G ratio of 1.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a fifty day simple moving average of $48.11 and a two-hundred day simple moving average of $47.31. Fifth Third Bancorp has a 52-week low of $36.55 and a 52-week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.87. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same quarter last year, the business posted $0.71 EPS. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current year.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the transaction, the executive vice president directly owned 76,299 shares of the company's stock, valued at $3,873,700.23. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the sale, the executive vice president directly owned 189,382 shares in the company, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.51% of the company's stock.

Institutional Trading of Fifth Third Bancorp

Institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC raised its position in Fifth Third Bancorp by 4.7% in the third quarter. AE Wealth Management LLC now owns 348,001 shares of the financial services provider's stock valued at $15,503,000 after purchasing an additional 15,627 shares during the period. Bahl & Gaynor Inc. raised its position 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 period. Envestnet Asset Management Inc. raised its position in 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 purchasing an additional 48,080 shares during the period. Generali Asset Management SPA SGR purchased a new stake in Fifth Third Bancorp in the third quarter valued at approximately $1,314,000. Finally, Westfield Capital Management Co. LP raised its position in Fifth Third Bancorp by 26.6% in the third quarter. Westfield Capital Management Co. LP now owns 1,619,948 shares of the financial services provider's stock valued at $72,169,000 after purchasing an additional 340,030 shares during the period. Hedge funds and other institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Company Profile

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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