Fifth Third Bancorp (NASDAQ:FITB) Receives “Outperform” Rating from Royal Bank of Canada

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $47.00 price target on the financial services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 6.82% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Truist Financial increased their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company increased their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup raised their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Barclays increased their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Stock Up 1.5 %

FITB stock opened at $44.00 on Monday. The stock has a market capitalization of $29.50 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The firm has a 50-day moving average price of $43.97 and a 200-day moving average price of $43.47.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of large investors have recently modified their holdings of FITB. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth $25,000. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth $28,000. Venturi Wealth Management LLC lifted its holdings in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth $29,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth $33,000. 83.79% of the stock is currently owned by institutional investors.

About Fifth Third Bancorp

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.