Fifth Third Bancorp (NASDAQ:FITB) Has Just Had Its Target Price Upgraded by Equity Analysts at UBS Securities to $23.00

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Stock Analysis:Fifth Third Bancorp (NASDAQ:FITB) Stock Target Raised

In a recent research report revealed to clients by UBS Securities on Thursday, 3 December, Fifth Third Bancorp (NASDAQ:FITB) had its Estimated Target Price lifted to $23.00. The firm at present has a solid Buy rating on shares.

From a total of 32 analysts covering Fifth Third (NASDAQ:FITB) stock, 17 rate it a ”Buy”, 1 a “Sell”, and 17 a ”Hold”. This means that 49% of the ratings are positive. The highest target price is $25 while the lowest target price is $20. The mean of all analyst targets is $21.96 with a 9.29% above today’s ($20.66) stock price. Fifth Third was the topic of 20 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray initiated shares on November 24 with “Neutral” rating. Oppenheimer maintained FITB stock in a recent report from October 21 with “Outperform” rating. Finally, Goldman Sachs downgraded the stock to “Neutral” rating in a report issued on an October 2.

Approximately 4.02 million shares of stock traded hands. Fifth Third Bancorp (NASDAQ:FITB) has risen 3.75% since April 30, 2015 and is uptrending. It has outperformed by 4.04% the S&P500.

Fifth Third Bancorp is a bank holding company. The company has a market cap of $16.49 billion. The Company’s subsidiary, Fifth Third Bank, provide a range of financial services and products to the retail, commercial, financial, governmental, educational and medical sectors, and credit products, such as credit cards, installment loans, mortgage loans and leases. It has 12.38 P/E ratio. The Firm operates in four business divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors.

According to Zacks Investment Research, “Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial, retail and trust banking, data processing services, investment advisory services and leasing activities. In addition, the company provides credit life, accident, health and mortgage insurance, discount brokerage services and property management for its properties.” Get a free copy of the Zacks research report on Fifth Third Bancorp (FITB).

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