Jefferies Group Increases Fifth Third Bancorp Price Target to $22.00 (FITB)
Research analysts at Jefferies Group upped their target price on shares of Fifth Third Bancorp (NASDAQ:FITB) from $21.00 to $22.00 in a report released on Friday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price indicates a potential upside of 14.11% from the stock’s previous close.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up 1.66% during mid-day trading on Friday, hitting $19.28. 9,457,811 shares of the company’s stock traded hands. Fifth Third Bancorp has a one year low of $13.75 and a one year high of $19.79. The stock has a 50-day moving average of $18.27 and a 200-day moving average of $18.12. The company has a market cap of $16.416 billion and a P/E ratio of 9.91.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.42 by $0.01. During the same quarter in the prior year, the company posted $0.38 earnings per share. On average, analysts predict that Fifth Third Bancorp will post $1.91 earnings per share for the current fiscal year.
FITB has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein cut their price target on shares of Fifth Third Bancorp from $21.00 to $20.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Fifth Third Bancorp in a research note to investors on Friday. They now have a $20.00 price target on the stock. Finally, analysts at Rafferty Capital Markets upgraded shares of Fifth Third Bancorp to a “buy” rating in a research note to investors on Friday. Fifteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.30.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company.
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