Jefferies Financial Group Boosts Fifth Third Bancorp (NASDAQ:FITB) Price Target to $55.00

Jefferies Financial Group raised its price target for Fifth Third Bancorp (NASDAQ:FITB) from $50.00 to $55.00 and maintained a "buy" rating. This suggests a potential upside of 26.63% from the previous close. Other analysts also provided ratings, with UBS Group and Morgan Stanley giving "neutral" and "overweight" ratings, respectively. Fifth Third Bancorp's stock opened at $43.44 on Monday, with a market cap of $28.71 billion. The company recently reported strong Q3 earnings, beating estimates with $0.93 EPS and $2.31 billion in revenue.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) had its target price raised by Jefferies Financial Group from $50.00 to $55.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Jefferies Financial Group's price target would indicate a potential upside of 26.63% from the company's previous close.

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A number of other equities research analysts also recently weighed in on the company. UBS Group upped their target price on Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 7th. Morgan Stanley set a $60.00 price objective on shares of Fifth Third Bancorp and gave the company an "overweight" rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a "buy (b-)" rating on shares of Fifth Third Bancorp in a research note on Wednesday, October 8th. Stephens set a $52.00 price target on shares of Fifth Third Bancorp and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. Finally, Piper Sandler reduced their price objective on Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $50.75.

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Fifth Third Bancorp Stock Up 0.2%

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FITB stock opened at $43.44 on Monday. The firm has a 50 day simple moving average of $42.89 and a 200-day simple moving average of $42.30. The company has a market capitalization of $28.71 billion, a P/E ratio of 12.97, a PEG ratio of 1.14 and a beta of 0.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $48.50.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its earnings results on Friday, October 17th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.87 by $0.06. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The firm had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.34 billion. During the same period last year, the firm earned $0.78 EPS. The firm's revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Insider Transactions at Fifth Third Bancorp

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In other Fifth Third Bancorp news, Director Evan Bayh purchased 3,000 shares of the business's stock in a transaction dated Monday, October 20th. The stock was bought at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the completion of the acquisition, the director directly owned 84,942 shares in the company, valued at $3,501,309.24. This represents a 3.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its position in Fifth Third Bancorp by 28.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 13,318 shares of the financial services provider's stock worth $593,000 after purchasing an additional 2,944 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in Fifth Third Bancorp during the third quarter worth $4,077,000. First Commonwealth Financial Corp PA lifted its holdings in Fifth Third Bancorp by 3.6% in the third quarter. First Commonwealth Financial Corp PA now owns 8,066 shares of the financial services provider's stock valued at $359,000 after buying an additional 283 shares during the period. Danske Bank A S bought a new stake in Fifth Third Bancorp during the third quarter valued at $14,282,000. Finally, San Luis Wealth Advisors LLC boosted its position in shares of Fifth Third Bancorp by 1.7% during the 3rd quarter. San Luis Wealth Advisors LLC now owns 18,166 shares of the financial services provider's stock valued at $809,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

About Fifth Third Bancorp

(Get Free Report)

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

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