Fifth Third Bancorp Rating Increased to Outperform at Wells Fargo & Co. (FITB)
Fifth Third Bancorp (NASDAQ: FITB) was upgraded by equities research analysts at Wells Fargo & Co. (NYSE: WFC) from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday.
A number of other analysts have also recently weighed in on FITB. Analysts at Deutsche Bank (NYSE: DB) upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, April 25th. They now have a $17.00 price target on the stock, up previously from $14.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Fifth Third Bancorp in a research note to investors on Friday, April 20th. They now have a $14.00 price target on the stock. Finally, analysts at Stifel Nicolaus upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, April 3rd. They now have a $17.00 price target on the stock.
Fifth Third Bancorp traded down 4.04% on Thursday, hitting $12.81. Fifth Third Bancorp has a 52-week low of $9.13 and a 52-week high of $14.73. The company has a market cap of $11.786 billion and a price-to-earnings ratio of 8.82.
Fifth Third Bancorp last posted its quarterly earnings results on Thursday, April 19th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.09. Analysts expect that Fifth Third Bancorp will post $0.36 EPS next quarter.
Fifth Third Bancorp (the Bancorp) is a diversified financial services company. The Bancorp operates in four business segments: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors.