Fifth Third Bancorp (NASDAQ:FITB) Stock Rating Reaffirmed by Stephens

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “equal weight” rating reissued by research analysts at Stephens in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $41.00 target price on the financial services provider’s stock. Stephens’ price target would suggest a potential upside of 13.73% from the company’s previous close.

A number of other equities research analysts have also issued reports on FITB. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. DA Davidson raised their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Friday, May 31st. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $37.50 to $39.50 in a report on Wednesday, May 1st. Finally, Evercore ISI raised their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.86.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $36.05 on Tuesday. The stock has a market capitalization of $24.66 billion, a PE ratio of 11.44, a P/E/G ratio of 2.46 and a beta of 1.24. The business has a 50 day simple moving average of $36.71 and a two-hundred day simple moving average of $35.05. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion during 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 period last year, the company earned $0.78 EPS. On average, research analysts predict that Fifth Third Bancorp will post 3.27 EPS for the current fiscal year.

Insiders Place Their Bets

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 completion of the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,357 shares of company stock valued at $816,148. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of large investors have recently bought and sold shares of the business. SVB Wealth LLC raised its holdings in Fifth Third Bancorp by 3.8% in the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 283 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Fifth Third Bancorp by 3.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 300 shares during the period. Lcnb Corp raised its holdings in Fifth Third Bancorp by 1.7% in the 4th quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after purchasing an additional 319 shares during the period. MCF Advisors LLC increased its stake in Fifth Third Bancorp by 0.8% during the 1st quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock worth $1,558,000 after buying an additional 328 shares in the last quarter. Finally, Independence Bank of Kentucky increased its stake in Fifth Third Bancorp by 21.1% during the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after buying an additional 355 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.