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

by · The Markets Daily

Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) had its price objective boosted by Truist Financial from $51.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target indicates a potential upside of 19.57% from the company’s previous close.

Other analysts also recently issued reports about the stock. Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Evercore ISI increased their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $45.97.

Check Out Our Latest Research Report on FITB

Fifth Third Bancorp Trading Down 3.1 %

Shares of NASDAQ FITB traded down $1.37 during mid-day trading on Wednesday, hitting $43.49. The company’s stock had a trading volume of 1,861,121 shares, compared to its average volume of 5,299,127. The stock has a market cap of $29.16 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company’s fifty day simple moving average is $44.91 and its 200-day simple moving average is $43.02.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Fifth Third Bancorp by 33.9% during the 4th quarter. Blue Trust Inc. now owns 9,035 shares of the financial services provider’s stock worth $387,000 after buying an additional 2,286 shares in the last quarter. Stablepoint Partners LLC raised its position in shares of Fifth Third Bancorp by 0.3% during the fourth quarter. Stablepoint Partners LLC now owns 108,960 shares of the financial services provider’s stock worth $4,607,000 after purchasing an additional 299 shares during the period. Geneos Wealth Management Inc. raised its position in Fifth Third Bancorp by 4.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after buying an additional 246 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Fifth Third Bancorp by 16.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider’s stock valued at $79,000 after buying an additional 261 shares during the last quarter. Finally, CX Institutional raised its position in Fifth Third Bancorp by 4.3% in the 4th quarter. CX Institutional now owns 7,301 shares of the financial services provider’s stock valued at $309,000 after buying an additional 303 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Company Profile

(Get Free Report)

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.

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