According to Fintel, Citigroup maintained its coverage of Fifth Third Bancorp (NASDAQ:FITB) with a Neutral recommendation on September 18, 2023.
The average one-year price target for Fifth Third Bancorp as of August 31, 2023, is $32.85. This represents a 19.73% increase from its latest reported closing price of $27.44. The price forecasts range from a low of $28.28 to a high of $36.75.
For Fifth Third Bancorp, the projected annual revenue is $9,526MM, which reflects a 16.04% increase. The projected annual non-GAAP EPS is 4.04.
Fifth Third Bancorp has 1,510 funds or institutions reporting positions. This is a decrease of 74 owners or 4.67% in the last quarter. The average portfolio weight of all funds dedicated to FITB is 0.20%, a decrease of 11.40%. Institutions’ total shares owned decreased by 0.86% in the last three months to 623,189K shares. The put/call ratio of FITB is 0.55, indicating a bullish outlook.
Price T Rowe Associates holds 44,882K shares representing 6.59% ownership of the company. This represents an increase of 3.79% from its prior filing, and the firm increased its portfolio allocation in FITB by 114.76% over the last quarter.
Vanguard Total Stock Market Index Fund Investor Shares holds 21,286K shares representing 3.13% ownership of the company. This represents an increase of 0.75% from its prior filing, and the firm decreased its portfolio allocation in FITB by 8.54% over the last quarter.
Jpmorgan Chase holds 18,888K shares representing 2.77% ownership of the company. This represents an increase of 4.52% from its prior filing, and the firm increased its portfolio allocation in FITB by 632.02% over the last quarter.
Invesco holds 17,928K shares representing 2.63% ownership of the company. This represents an increase of 9.16% from its prior filing, and the firm increased its portfolio allocation in FITB by 999.63% over the last quarter.
Vanguard 500 Index Fund Investor Shares holds 16,208K shares representing 2.38% ownership of the company. This represents an increase of 1.62% from its prior filing, and the firm decreased its portfolio allocation in FITB by 9.43% over the last quarter.
Fifth Third Bancorp Background Information
(This description is provided by the company.)
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of December 31, 2020, the Company had $205 billion in assets and operated 1,134 full-service Banking Centers, and 2,397 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina, and South Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2020, had $434 billion in assets under care, of which it managed $54 billion for individuals, corporations, and not-for-profit organizations through its Trust and Registered Investment Advisory businesses.
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