Wolfe Research Has Lowered Expectations for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB) had its price objective dropped by analysts at Wolfe Research from $57.00 to $55.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Wolfe Research’s price objective would indicate a potential upside of 16.75% from the stock’s previous close.

A number of other equities research analysts have also recently commented on FITB. Citigroup raised their target price on Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Weiss Ratings raised Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Evercore increased their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Robert W. Baird boosted their price objective on Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Finally, Wells Fargo & Company upped their target price on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average target price of $56.14.

Fifth Third Bancorp Stock Up 0.6%

FITB stock opened at $47.11 on Wednesday. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $55.44. 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 firm’s fifty day moving average is $49.23 and its 200 day moving average is $46.54. The firm has a market cap of $42.66 billion, a PE ratio of 13.31, a P/E/G ratio of 0.92 and a beta of 0.95.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently bought and sold shares of the company. Westside Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 100.0% in the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 292 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 517 shares during the last quarter. Monetary Solutions Ltd purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Leonteq Securities AG purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $30,000. Finally, Evolution Wealth Management Inc. acquired a new position in Fifth Third Bancorp in the 2nd quarter valued at $26,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.