The Street is bullish on Fifth Third Bancorp (NASDAQ:FITB) since the company posted its fiscal Q1 2026 earnings on April 17. The stock currently trades at a forward price to earnings ratio of 12.02, significantly below the average ratio of the S&P 500. The company also ranks among our Best Undervalued Stocks to Buy Under $100.
Recently, on May 7, Jason Goldberg from Barclays reiterated a Buy rating on the stock and raised the price target from $61 to $63. Earlier, on April 30, Vivek Juneja from J.P. Morgan also reiterated a Buy rating on Fifth Third Bancorp (NASDAQ:FITB) and raised the price target from $53 to $54.5.
The positive sentiment comes despite the company missing earnings estimates during the first quarter. The company posted $2.83 billion in revenue, reflecting more than 32.68% year-over-year growth but below the consensus of $4.47 million. The GAAP EPS of $0.15 also fell short of the consensus by $0.07.
During the earnings transcript, management noted that the integration of the Comerica acquisition is progressing as per the schedule. The company has raised its net interest income guidance to a range of $8.7 billion to $8.8 billion for the full year, based on improved realized synergy capture, favorable deposit response, and new market expansion success.
Analyst at J.P. Morgan noted that the firm has increased its price target in the large-cap bank space following the Q1 results.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company and serves as the indirect holding company of Fifth Third Bank, National Association.
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