Morgan Stanley Lowers Fifth Third Bancorp (NASDAQ:FITB) Price Target to $60.00

Fifth Third Bancorp (NASDAQ:FITB) had its target price lowered by investment analysts at Morgan Stanley from $67.00 to $60.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 28.15% from the company’s current price.

A number of other research firms also recently weighed in on FITB. Argus boosted their target price on Fifth Third Bancorp from $49.00 to $58.00 in a research report on Thursday, January 22nd. Wells Fargo & Company raised their price target on Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 5th. DA Davidson lifted their price objective on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Janney Montgomery Scott boosted their price objective on Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, Stephens upped their target price on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Fifth Third Bancorp Stock Up 0.8%

NASDAQ:FITB opened at $46.82 on Tuesday. The company has a market cap of $42.40 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.91 and a beta of 0.95. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The stock’s fifty day moving average price is $49.31 and its two-hundred day moving average price is $46.54. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $55.44.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FITB. Evolution Wealth Management Inc. acquired a new position in Fifth Third Bancorp in the second quarter valued at about $26,000. Westside Investment Management Inc. grew its position in shares of Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after buying an additional 292 shares during the period. Harbor Investment Advisory LLC grew its position in shares of Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after buying an additional 517 shares during the period. Monetary Solutions Ltd bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Finally, United Community Bank increased its stake in shares of Fifth Third Bancorp by 581.0% in the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 581 shares during the last quarter. 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.