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Wedbush Believes Fifth Third Bancorp (FITB) Won’t Stop Here

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In a report released yesterday, Peter Winter from Wedbush maintained a Buy rating on Fifth Third Bancorp (FITBResearch Report), with a price target of $50.00. The company’s shares closed last Monday at $48.32, close to its 52-week high of $50.64.

According to TipRanks.com, Winter is a 4-star analyst with an average return of 9.9% and a 55.4% success rate. Winter covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Texas Capital Bancshares, and Huntington Bancshares.

Currently, the analyst consensus on Fifth Third Bancorp is a Moderate Buy with an average price target of $51.77, a 9.2% upside from current levels. In a report issued on January 30, Jefferies also maintained a Buy rating on the stock with a $56.00 price target.

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Fifth Third Bancorp’s market cap is currently $33.04B and has a P/E ratio of 12.94.

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Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. The Commercial Banking segment offers credit intermediation, cash management and financial services to large and middle-market businesses. The Branch Banking segment provides deposit, loan and lease products to individuals and small businesses. The Consumer Lending segment includes residential mortgage, home equity, automobile and indirect lending activities. The Wealth & Asset Management segment provides investment alternatives for individuals, companies and not-for-profit organizations. The company was founded in 1975 and is headquartered in Cincinnati, OH.

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