Fifth Third Bancorp (NASDAQ:FITB) Earns “Market Perform” Rating from Keefe, Bruyette & Woods

Fifth Third Bancorp (NASDAQ:FITBGet Free Report)‘s stock had its “market perform” rating restated by equities researchers at Keefe, Bruyette & Woods in a report issued on Monday, Benzinga reports. They currently have a $40.00 price objective on the financial services provider’s stock, up from their prior price objective of $39.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 9.65% from the company’s current price.

FITB has been the subject of several other research reports. UBS Group reiterated a “neutral” rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Barclays raised their price objective on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada boosted their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Stephens restated an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Finally, Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.69.

Get Our Latest Stock Report on Fifth Third Bancorp

Fifth Third Bancorp Stock Up 0.6 %

Shares of FITB stock opened at $36.48 on Monday. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.41. 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 has a market cap of $24.85 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. The stock has a 50 day moving average of $35.21 and a 200-day moving average of $31.89.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last released its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the prior year, the company earned $0.78 EPS. On average, equities analysts predict that Fifth Third Bancorp will post 3.19 EPS for the current year.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Several hedge funds have recently modified their holdings of the stock. Financial Synergies Wealth Advisors Inc. bought a new position in Fifth Third Bancorp in the first quarter valued at approximately $29,000. GoalVest Advisory LLC grew its stake in shares of 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 buying an additional 560 shares in the last quarter. Denali Advisors LLC acquired a new position in Fifth Third Bancorp during the fourth quarter worth $36,000. Financial Management Professionals Inc. raised its position in Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,000 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $38,000. Institutional investors own 83.79% of the company’s stock.

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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