Fifth Third Bancorp (NASDAQ:FITB) Given New $43.00 Price Target at Jefferies Financial Group

Fifth Third Bancorp (NASDAQ:FITB) had its price target hoisted by research analysts at Jefferies Financial Group from $42.00 to $43.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 16.91% from the company’s current price.

Several other research analysts have also commented on the company. Evercore ISI reduced their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. UBS Group reiterated a “neutral” rating and set a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a report on Friday, May 31st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.15.

Fifth Third Bancorp Trading Down 0.5 %

Shares of FITB opened at $36.78 on Wednesday. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $39.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm’s fifty day moving average is $36.90 and its two-hundred day moving average is $35.62. The stock has a market cap of $25.16 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 2.55 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Research analysts forecast that Fifth Third Bancorp will post 3.29 earnings per share for the current fiscal year.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Financial Synergies Wealth Advisors Inc. purchased a new position in Fifth Third Bancorp in the first quarter valued at approximately $29,000. GoalVest Advisory LLC increased its stake in Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares during the last quarter. Denali Advisors LLC purchased a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $36,000. Financial Management Professionals Inc. increased its stake in Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $48,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.