Fintel reports that on September 18, 2023, Citigroup maintained coverage of Fifth Third Bancorp (NASDAQ:FITB) with a Neutral recommendation.
Analyst Price Forecast Suggests 19.73% Upside
As of August 31, 2023, the average one-year price target for Fifth Third Bancorp is 32.85. The forecasts range from a low of 28.28 to a high of $36.75. The average price target represents an increase of 19.73% from its latest reported closing price of 27.44.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fifth Third Bancorp is 9,526MM, an increase of 16.04%. The projected annual non-GAAP EPS is 4.04.
What is the Fund Sentiment?
There are 1510 funds or institutions reporting positions in Fifth Third Bancorp. This is a decrease of 74 owner(s) or 4.67% in the last quarter. Average portfolio weight of all funds dedicated to FITB is 0.20%, a decrease of 11.40%. Total shares owned by institutions decreased in the last three months by 0.86% to 623,189K shares. 
The put/call ratio of FITB is 0.55, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 44,882K shares representing 6.59% ownership of the company. In it's prior filing, the firm reported owning 43,180K shares, representing an increase of 3.79%. The firm increased its portfolio allocation in FITB by 114.76% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 21,286K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 21,126K shares, representing an increase of 0.75%. 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. In it's prior filing, the firm reported owning 18,034K shares, representing an increase of 4.52%. 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. In it's prior filing, the firm reported owning 16,285K shares, representing an increase of 9.16%. The firm increased its portfolio allocation in FITB by 999.63% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 16,208K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 15,946K shares, representing an increase of 1.62%. 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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