Fifth Third Bancorp (NASDAQ:FITB) had its price objective upped by equities research analysts at Morgan Stanley from $34.00 to $35.00 in a report issued on Friday. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 4.95% from the company’s current price.
FITB has been the topic of several other research reports. BidaskClub upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Robert W. Baird cut shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, October 11th. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Friday, December 8th. Finally, Oppenheimer reiterated a “hold” rating on shares of Fifth Third Bancorp in a research note on Thursday, December 7th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company’s stock. Fifth Third Bancorp has an average rating of “Hold” and an average target price of $30.47.
Fifth Third Bancorp (NASDAQ:FITB) traded up $0.51 on Friday, reaching $33.35. 3,417,185 shares of the company’s stock traded hands, compared to its average volume of 5,514,260. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.99. The company has a market cap of $23,517.02, a PE ratio of 11.70, a P/E/G ratio of 2.28 and a beta of 1.35. Fifth Third Bancorp has a 1-year low of $23.20 and a 1-year high of $33.51.
A number of institutional investors have recently added to or reduced their stakes in the stock. Scotia Capital Inc. increased its holdings in Fifth Third Bancorp by 1.2% in the 2nd quarter. Scotia Capital Inc. now owns 78,139 shares of the financial services provider’s stock worth $2,028,000 after acquiring an additional 900 shares in the last quarter. Veritable L.P. grew its holdings in Fifth Third Bancorp by 5.5% during the 2nd quarter. Veritable L.P. now owns 20,021 shares of the financial services provider’s stock valued at $520,000 after buying an additional 1,042 shares in the last quarter. Creative Planning grew its holdings in Fifth Third Bancorp by 2.1% during the 4th quarter. Creative Planning now owns 88,715 shares of the financial services provider’s stock valued at $2,692,000 after buying an additional 1,793 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in Fifth Third Bancorp by 1.6% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 123,778 shares of the financial services provider’s stock valued at $3,463,000 after buying an additional 1,900 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Fifth Third Bancorp by 5.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 40,241 shares of the financial services provider’s stock valued at $1,126,000 after buying an additional 1,910 shares in the last quarter. 84.04% of the stock is owned by institutional investors.
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About Fifth Third Bancorp
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.
