Fifth Third Bancorp (NASDAQ:FITB) Price Target Raised to $50.00 at DA Davidson

Fifth Third Bancorp (NASDAQ:FITB) had its target price upped by research analysts at DA Davidson from $49.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective suggests a potential upside of 13.83% from the company’s current price.

A number of other research analysts also recently commented on FITB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley boosted their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Keefe, Bruyette & Woods lifted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock traded down $0.01 during mid-day trading on Thursday, reaching $43.93. 738,977 shares of the company were exchanged, compared to its average volume of 5,282,935. The firm has a market cap of $29.45 billion, a PE ratio of 13.99, a PEG ratio of 1.95 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. The company has a fifty day simple moving average of $44.85 and a 200-day simple moving average of $43.02. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC lifted its position in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the period. Legacy Investment Solutions LLC bought a new position in Fifth Third Bancorp during the third quarter worth $36,000. Hexagon Capital Partners LLC grew its holdings in Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in Fifth Third Bancorp in the third quarter valued at $39,000. 83.79% of the stock is owned by institutional investors and hedge funds.

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.