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

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report)'s stock had its "outperform" rating reiterated by research analysts at Royal Bank of Canada in a note issued to 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 objective points to a potential upside of 8.03% from the stock's current price.

A number of other research analysts have also recently weighed in on FITB. Barclays lifted their price target 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. Truist Financial raised their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods raised their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, Baird R W cut shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $46.75.

Fifth Third Bancorp Trading Up 0.2 %

Shares of NASDAQ FITB traded up $0.08 during trading on Monday, hitting $43.51. 2,603,139 shares of the company traded hands, compared to its average volume of 4,635,639. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $29.17 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a 50-day moving average price of $43.84 and a 200-day moving average price of $43.49. Fifth Third Bancorp has a 1 year low of $33.03 and a 1 year high of $49.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Retirement Wealth Solutions LLC bought a new position in Fifth Third Bancorp during the 4th quarter worth $25,000. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $28,000. Venturi Wealth Management LLC lifted its position in 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 valued at $29,000 after purchasing an additional 316 shares during the last quarter. BankPlus Trust Department bought a new stake in Fifth Third Bancorp in the 4th quarter valued at about $29,000. Finally, Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the 4th quarter valued at about $33,000. 83.79% of the stock is owned by institutional investors and hedge funds.

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.