Fifth Third Bancorp (NASDAQ:FITB) Price Target Lowered to $42.00 at JPMorgan Chase & Co.

Fifth Third Bancorp (NASDAQ:FITB) had its target price lowered by JPMorgan Chase & Co. from $49.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 6.01% from the company’s previous close.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. DA Davidson lifted their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley reduced their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, Barclays lifted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.65.

Fifth Third Bancorp Stock Up 1.8 %

FITB stock opened at $39.62 on Thursday. The firm has a market capitalization of $26.47 billion, a PE ratio of 12.62, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. The stock’s 50 day moving average is $41.88 and its 200-day moving average is $43.47.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of FITB. Norges Bank bought a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $371,836,000. PL Capital Advisors LLC raised its position in shares of Fifth Third Bancorp by 4,128.0% in the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock worth $78,654,000 after buying an additional 1,816,320 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Fifth Third Bancorp during the fourth quarter valued at $53,508,000. First Trust Advisors LP grew its position in Fifth Third Bancorp by 12.1% during the fourth quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider’s stock worth $402,991,000 after buying an additional 1,027,044 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Fifth Third Bancorp in the 4th quarter worth about $38,971,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

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.