Fintel reports that on May 1, 2024, JP Morgan upgraded their outlook for Fifth Third Bancorp (NasdaqGS:FITB) from Neutral to Overweight.
Analyst Price Forecast Suggests 9.47% Upside
As of April 17, 2024, the average one-year price target for Fifth Third Bancorp is 39.91. The forecasts range from a low of 28.94 to a high of $46.20. The average price target represents an increase of 9.47% from its latest reported closing price of 36.46.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fifth Third Bancorp is 9,756MM, an increase of 19.76%. The projected annual non-GAAP EPS is 4.28.
What is the Fund Sentiment?
There are 1,630 funds or institutions reporting positions in Fifth Third Bancorp. This is an increase of 67 owner(s) or 4.29% in the last quarter. Average portfolio weight of all funds dedicated to FITB is 0.23%, an increase of 9.79%. Total shares owned by institutions increased in the last three months by 5.80% to 701,803K shares. 
The put/call ratio of FITB is 0.93, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 42,328K shares representing 6.19% ownership of the company. In its prior filing, the firm reported owning 42,822K shares , representing a decrease of 1.17%. The firm increased its portfolio allocation in FITB by 23.41% over the last quarter.
Capital World Investors holds 41,084K shares representing 6.01% ownership of the company. In its prior filing, the firm reported owning 30,612K shares , representing an increase of 25.49%. The firm increased its portfolio allocation in FITB by 64.07% over the last quarter.
AMECX - INCOME FUND OF AMERICA holds 27,635K shares representing 4.04% ownership of the company. In its prior filing, the firm reported owning 11,658K shares , representing an increase of 57.81%. The firm increased its portfolio allocation in FITB by 216.28% over the last quarter.
Jpmorgan Chase holds 25,178K shares representing 3.68% ownership of the company. In its prior filing, the firm reported owning 19,308K shares , representing an increase of 23.31%. The firm increased its portfolio allocation in FITB by 54.62% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 21,384K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 21,152K shares , representing an increase of 1.09%. The firm increased its portfolio allocation in FITB by 23.02% 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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