Fifth Third Bancorp (NASDAQ:FITB) PT Raised to $39.00

Fifth Third Bancorp (NASDAQ:FITB) had its price target lifted by stock analysts at DA Davidson from $37.00 to $39.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective would indicate a potential upside of 5.23% from the stock’s current price. DA Davidson also issued estimates for Fifth Third Bancorp’s Q2 2024 earnings at $0.82 EPS, FY2024 earnings at $3.30 EPS and FY2025 earnings at $3.60 EPS.

Several other equities analysts also recently weighed in on FITB. Royal Bank of Canada increased their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. UBS Group reiterated a “neutral” rating and set a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 target price (up from $39.00) on shares of Fifth Third Bancorp in a research report on Monday. Evercore ISI increased their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Finally, Stephens reiterated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.31.

Fifth Third Bancorp Stock Up 1.4 %

FITB opened at $37.06 on Monday. 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 $25.25 billion, a P/E ratio of 11.77, a PEG ratio of 1.38 and a beta of 1.27. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.41. The business’s fifty day simple moving average is $35.35 and its 200 day simple moving average is $32.07.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter last year, the company earned $0.78 earnings per share. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,357 shares of company stock worth $1,693,888. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of hedge funds have recently bought and sold shares of the business. Wetzel Investment Advisors Inc. grew its stake in Fifth Third Bancorp by 22.2% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 15,836 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 2,872 shares in the last quarter. Amalgamated Bank grew its stake in Fifth Third Bancorp by 10.7% during the 1st quarter. Amalgamated Bank now owns 196,223 shares of the financial services provider’s stock valued at $7,301,000 after purchasing an additional 19,014 shares in the last quarter. Wesbanco Bank Inc. grew its stake in Fifth Third Bancorp by 355.1% during the 1st quarter. Wesbanco Bank Inc. now owns 89,225 shares of the financial services provider’s stock valued at $3,320,000 after purchasing an additional 69,619 shares in the last quarter. Stablepoint Partners LLC grew its stake in Fifth Third Bancorp by 6.4% during the 1st quarter. Stablepoint Partners LLC now owns 139,807 shares of the financial services provider’s stock valued at $5,202,000 after purchasing an additional 8,378 shares in the last quarter. Finally, Strategic Blueprint LLC grew its stake in Fifth Third Bancorp by 133.9% during the 1st quarter. Strategic Blueprint LLC now owns 20,723 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 11,863 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.