Keefe, Bruyette And Woods Upgrade Fifth Third To Outperform (FITB)

Keefe, Bruyette And Woods upgraded Fifth Third Bancorp FITB from Market Perform to Outperform and raised Fifth Third's price target to $16 in a research report published today.

In the report, Keefe, Bruyette And Woods states, "We also believe there is potential for a dividend increase following the Fed's capital test given FITB's strong balance sheet. This potential dividend action is not embedded in market expectations in our view, and as a result, the stock provides a good risk/reward opportunity."

Shares of Fifth Third were trading at $14.24 in pre-market trading at the time of posting, up 3.11% from Thursday's market close.