Fifth Third Bancorp (NASDAQ:FITB) Stock Rating Upgraded by Argus

Fifth Third Bancorp (NASDAQ:FITB) was upgraded by stock analysts at Argus to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price target on Fifth Third Bancorp from $54.50 to $61.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Barclays lifted their price objective on Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Stephens began coverage on Fifth Third Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $58.00 price objective on the stock. Royal Bank Of Canada upped their target price on Fifth Third Bancorp from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday. Finally, UBS Group raised their target price on Fifth Third Bancorp from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.20.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $57.77 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $52.36 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.09 and a beta of 0.90. The company’s fifty day moving average is $53.58 and its two-hundred day moving average is $50.85. Fifth Third Bancorp has a 52-week low of $40.04 and a 52-week high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the company posted $0.88 EPS. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. Equities research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Insider Activity at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the sale, the executive vice president owned 189,382 shares of the company’s stock, valued at $9,556,215.72. The trade was a 9.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Center for Financial Planning Inc. acquired a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at $25,000. SouthState Bank Corp increased its position in shares of Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 236 shares in the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $29,000. Leonteq Securities AG bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $30,000. Finally, Reflection Asset Management bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $30,000. 83.79% of the stock is owned by 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.