Fifth Third Bancorp (NASDAQ:FITB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Fifth Third Bancorp (NASDAQ:FITB) have been given an average rating of “Moderate Buy” by the nineteen brokerages that are currently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $47.31.

FITB has been the subject of a number of recent research reports. Barclays lifted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. Truist Financial increased their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Stephens reissued an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th.

Insider Activity

In related news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC raised its holdings in Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after buying an additional 222 shares during the period. Transamerica Financial Advisors Inc. raised its stake in shares of Fifth Third Bancorp by 7.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 232 shares during the period. Eads & Heald Wealth Management lifted its holdings in shares of Fifth Third Bancorp by 3.0% during the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 235 shares in the last quarter. Valley National Advisers Inc. boosted its position in Fifth Third Bancorp by 3.6% during the 4th quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 236 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Fifth Third Bancorp by 4.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $38.23 on Wednesday. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The firm has a market capitalization of $25.54 billion, a P/E ratio of 12.18, 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. The firm’s 50 day moving average is $43.08 and its two-hundred day moving average is $43.77.

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.