Fifth Third Bancorp (NASDAQ:FITB) Rating Reiterated by Robert W. Baird

Fifth Third Bancorp (NASDAQ:FITBGet Free Report)‘s stock had its “neutral” rating restated by research analysts at Robert W. Baird in a research note issued on Monday, Marketbeat.com reports. They presently have a $32.00 price target on the financial services provider’s stock. Robert W. Baird’s price target would suggest a potential downside of 11.06% from the company’s current price.

Several other research firms have also commented on FITB. Keefe, Bruyette & Woods lowered Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, January 9th. Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. UBS Group boosted their target price on Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Morgan Stanley boosted their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada boosted their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.50.

Check Out Our Latest Analysis on Fifth Third Bancorp

Fifth Third Bancorp Trading Down 2.0 %

FITB opened at $35.98 on Monday. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.42 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 50 day moving average is $34.93 and its two-hundred day moving average is $30.95. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.77 by $0.22. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same quarter in the previous year, the company posted $1.04 earnings per share. On average, research analysts predict that Fifth Third Bancorp will post 3.17 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction that occurred on 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 owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp 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 transaction, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FITB. Nordea Investment Management AB grew its position in Fifth Third Bancorp by 57.5% during the 4th quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after purchasing an additional 269,152 shares in the last quarter. Raymond James & Associates grew its position in Fifth Third Bancorp by 11.7% during the 4th quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock worth $22,805,000 after purchasing an additional 69,273 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Fifth Third Bancorp by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after purchasing an additional 393,937 shares in the last quarter. Natixis Advisors L.P. grew its position in Fifth Third Bancorp by 4.3% during the 3rd quarter. Natixis Advisors L.P. now owns 671,803 shares of the financial services provider’s stock worth $17,017,000 after purchasing an additional 27,610 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Fifth Third Bancorp by 460.8% during the 3rd quarter. National Bank of Canada FI now owns 675,898 shares of the financial services provider’s stock worth $16,559,000 after purchasing an additional 555,375 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Fifth Third Bancorp

(Get Free Report)

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.

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