Fifth Third Bancorp’s (FITB) Equal Weight Rating Reaffirmed at Stephens

Fifth Third Bancorp (NASDAQ:FITBGet Free Report)‘s stock had its “equal weight” rating reissued by equities researchers at Stephens in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $41.00 price objective on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 15.10% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $37.50 to $39.50 in a research report on Wednesday, May 1st. Morgan Stanley restated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Friday, May 31st. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, UBS Group reiterated a “neutral” rating and issued a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.86.

Read Our Latest Stock Analysis on FITB

Fifth Third Bancorp Stock Down 1.4 %

Shares of Fifth Third Bancorp stock opened at $35.62 on Tuesday. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $39.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average price of $36.72 and a two-hundred day moving average price of $34.99. The stock has a market capitalization of $24.37 billion, a P/E ratio of 11.31, a PEG ratio of 2.50 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period in the previous year, the company earned $0.78 earnings per share. Equities analysts expect that Fifth Third Bancorp will post 3.27 earnings per share for the current year.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,357 shares of company stock worth $816,148. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at approximately $29,000. GoalVest Advisory LLC increased its stake in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $36,000. Financial Management Professionals Inc. grew its holdings in Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. Finally, Friedenthal Financial acquired a new position in Fifth Third Bancorp during the fourth quarter worth approximately $48,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Company Profile

(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.

Read More

Analyst Recommendations for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.