Citigroup Raises Fifth Third Bancorp (NASDAQ:FITB) Price Target to $52.00

Fifth Third Bancorp (NASDAQ:FITB) had its target price increased by equities research analysts at Citigroup from $43.00 to $52.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective indicates a potential upside of 8.56% from the stock’s current price.

Several other brokerages have also recently weighed in on FITB. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Barclays raised their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company increased 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 note on Friday, November 15th. Finally, Evercore ISI boosted their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.62.

Fifth Third Bancorp Stock Up 1.7 %

Shares of FITB opened at $47.90 on Friday. The firm has a fifty day moving average price of $44.17 and a 200-day moving average price of $40.71. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $32.12 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.26 and a beta of 1.21. Fifth Third Bancorp has a 12-month low of $26.89 and a 12-month high of $48.10.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm earned $0.92 earnings per share. Fifth Third Bancorp’s quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 14.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Fifth Third Bancorp

Large investors have recently made changes to their positions in the business. Shell Asset Management Co. boosted its stake in shares of Fifth Third Bancorp by 261.3% in the first quarter. Shell Asset Management Co. now owns 12,313 shares of the financial services provider’s stock worth $458,000 after buying an additional 8,905 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in Fifth Third Bancorp by 20.5% in the first quarter. EP Wealth Advisors LLC now owns 9,044 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 1,539 shares during the period. BOKF NA boosted its position in Fifth Third Bancorp by 2,563.3% in the 1st quarter. BOKF NA now owns 43,492 shares of the financial services provider’s stock worth $1,596,000 after purchasing an additional 41,859 shares in the last quarter. SVB Wealth LLC grew its stake in shares of Fifth Third Bancorp by 3.8% during the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 283 shares during the period. Finally, Black Maple Capital Management LP increased its holdings in shares of Fifth Third Bancorp by 276.7% during the 1st quarter. Black Maple Capital Management LP now owns 186,200 shares of the financial services provider’s stock valued at $6,929,000 after purchasing an additional 136,770 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

About Fifth Third Bancorp

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.