Fifth Third Bancorp Price Target Increased to $23.00 by Analysts at SunTrust (FITB)
Research analysts at SunTrust hoisted their price target on shares of Fifth Third Bancorp (NASDAQ:FITB) from $21.00 to $23.00 in a report released on Friday, Stock Ratings News reports. SunTrust’s price objective would suggest a potential upside of 9.42% from the stock’s previous close.
In other Fifth Third Bancorp news, EVP Steven Alonso unloaded 12,349 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $21.25, for a total value of $262,416.25. Following the completion of the transaction, the executive vice president now directly owns 84,345 shares of the company’s stock, valued at approximately $1,792,331. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded down 1.04% on Friday, hitting $21.02. 7,693,354 shares of the company’s stock traded hands. Fifth Third Bancorp has a 1-year low of $15.43 and a 1-year high of $21.96. The stock has a 50-day moving average of $21.05 and a 200-day moving average of $19.54. The company has a market cap of $18.557 billion and a price-to-earnings ratio of 10.59. Fifth Third Bancorp also saw some unusual options trading on Tuesday. Stock traders acquired 16,428 put options on the company. This is an increase of approximately 719% compared to the average volume of 2,006 put options.
Fifth Third Bancorp (NASDAQ:FITB) last released its earnings data on Thursday, January 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, analysts predict that Fifth Third Bancorp will post $1.77 earnings per share for the current fiscal year.
FITB has been the subject of a number of other recent research reports. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Fifth Third Bancorp from $20.00 to $22.00 in a research note to investors on Monday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Fifth Third Bancorp in a research note to investors on Friday, January 24th. They now have a $22.50 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of Fifth Third Bancorp to $25.00 in a research note to investors on Friday, January 24th. They now have a “buy” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $21.03.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company.
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