Fifth Third Bancorp (NASDAQ:FITB) Price Target Raised to $52.00 at Citigroup

Fifth Third Bancorp (NASDAQ:FITB) had its price target increased by research analysts at Citigroup from $43.00 to $52.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective indicates a potential upside of 8.56% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Evercore ISI lifted their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Barclays increased their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus target price of $43.62.

Fifth Third Bancorp Trading Up 1.7 %

Shares of FITB stock opened at $47.90 on Friday. Fifth Third Bancorp has a 1-year low of $26.89 and a 1-year high of $48.10. The company has a market cap of $32.12 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50 day simple moving average of $44.17 and a 200-day simple moving average of $40.71.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This trade represents a 14.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Several institutional investors have recently bought and sold shares of the company. Park National Corp OH increased its position in shares of Fifth Third Bancorp by 15.0% during the second quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 5,411 shares during the period. QRG Capital Management Inc. increased its holdings in Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the period. M&G Plc acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at about $1,254,000. Plato Investment Management Ltd purchased a new position in shares of Fifth Third Bancorp in the 1st quarter valued at about $639,000. Finally, BDF Gestion purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at about $3,837,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.