Fifth Third Bancorp (NASDAQ:FITB) had its price objective increased by Morgan Stanley from $30.00 to $34.00 in a report issued on Wednesday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 11.66% from the company’s current price.

A number of other research firms have also recently issued reports on FITB. Zacks Investment Research cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 27th. UBS reaffirmed a “sell” rating and issued a $26.00 price target (up from $25.00) on shares of Fifth Third Bancorp in a report on Friday, October 6th. Bank of America lifted their price target on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $27.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $28.68.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded up $0.15 during midday trading on Wednesday, hitting $30.45. The company’s stock had a trading volume of 7,110,400 shares, compared to its average volume of 5,807,832. The company has a market capitalization of $21,379.11, a PE ratio of 16.83, a PEG ratio of 2.52 and a beta of 1.35. Fifth Third Bancorp has a 12 month low of $23.20 and a 12 month high of $31.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. During the same period last year, the business earned $0.65 earnings per share. equities analysts forecast that Fifth Third Bancorp will post 1.79 EPS for the current year.

In related news, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the sale, the executive vice president now directly owns 154,577 shares in the company, valued at $4,461,092.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of FITB. Janney Montgomery Scott LLC grew its position in shares of Fifth Third Bancorp by 5.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 30,114 shares of the financial services provider’s stock worth $782,000 after buying an additional 1,646 shares during the period. Global X Management Co. LLC grew its position in shares of Fifth Third Bancorp by 15.8% during the 2nd quarter. Global X Management Co. LLC now owns 23,680 shares of the financial services provider’s stock worth $615,000 after buying an additional 3,238 shares during the period. Trexquant Investment LP acquired a new position in shares of Fifth Third Bancorp during the 2nd quarter worth about $299,000. Schwab Charles Investment Management Inc. grew its position in shares of Fifth Third Bancorp by 4.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,551,216 shares of the financial services provider’s stock worth $66,230,000 after buying an additional 105,410 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Fifth Third Bancorp by 13.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 68,035 shares of the financial services provider’s stock worth $1,847,000 after buying an additional 7,935 shares during the period. Institutional investors own 83.97% of the company’s stock.

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Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

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