Wells Fargo analyst Mike Mayo has maintained their bullish stance on FITB stock, giving a Buy rating on April 7.
Mike Mayo has given his Buy rating due to a combination of factors including Fifth Third Bancorp’s strong loan growth projections and management’s expectation of record net interest income (NII) in 2025. Despite a slight reduction in fee growth guidance, the bank’s increased loan growth forecast and lower-than-expected reserve build contribute positively to its financial outlook.
Furthermore, Mayo notes that the company’s cost management is effective, with lower expenses partially offsetting the modest downward revisions in NII projections. The bank’s credit profile has improved, and its provision levels are slightly lower, adding to the earnings per share. These elements, combined with a best-in-class deposit beta, support Mayo’s optimistic view of Fifth Third Bancorp’s potential performance.
In another report released on April 7, Robert W. Baird also upgraded the stock to a Buy with a $47.00 price target.
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FITB in relation to earlier this year.