Stephens Reaffirms Equal Weight Rating for Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “equal weight” rating reaffirmed by Stephens in a note issued to investors on Wednesday,Benzinga reports. They currently have a $51.00 price target on the financial services provider’s stock. Stephens’ target price points to a potential upside of 27.15% from the stock’s previous close.

Several other research firms have also recently commented on FITB. Keefe, Bruyette & Woods raised their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Citigroup increased their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Barclays raised their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Truist Financial lifted their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $47.31.

Fifth Third Bancorp Trading Down 3.6 %

NASDAQ FITB traded down $1.52 during mid-day trading on Wednesday, reaching $40.11. 1,688,949 shares of the stock were exchanged, compared to its average volume of 4,524,996. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $26.70 billion, a P/E ratio of 12.80, a P/E/G ratio of 1.42 and a beta of 1.23. The stock has a 50 day simple moving average of $43.41 and a 200-day simple moving average of $43.82. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FITB. OneDigital Investment Advisors LLC grew its position in Fifth Third Bancorp by 1.1% during the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after buying an additional 222 shares during the period. Transamerica Financial Advisors Inc. boosted its stake in shares of Fifth Third Bancorp by 7.5% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 232 shares during the last quarter. Eads & Heald Wealth Management increased its stake in shares of Fifth Third Bancorp by 3.0% in the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 235 shares in the last quarter. Valley National Advisers Inc. raised its holdings in Fifth Third Bancorp by 3.6% in the 4th quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 236 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Fifth Third Bancorp by 4.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 246 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

About Fifth Third Bancorp

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.