Citigroup Has Lowered Expectations for Fifth Third Bancorp (NASDAQ:FITB) Stock Price

Fifth Third Bancorp (NASDAQ:FITB) had its price objective reduced by research analysts at Citigroup from $52.00 to $43.00 in a research note issued to investors on Monday,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 6.84% from the company’s previous close.

FITB has been the subject of several other reports. Stephens reissued an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.86.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB traded up $0.77 during trading on Monday, hitting $40.25. 492,012 shares of the company were exchanged, compared to its average volume of 4,230,345. 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 1-year low of $33.82 and a 1-year high of $49.07. The company has a market capitalization of $26.89 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business’s 50 day moving average is $42.53 and its 200-day moving average is $43.58.

Insider Activity

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Common Asset Management LLC increased its stake in Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after acquiring an additional 34,203 shares during the last quarter. Boston Partners boosted its holdings in shares of Fifth Third Bancorp by 6.2% in the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock worth $597,692,000 after purchasing an additional 823,803 shares in the last quarter. AMJ Financial Wealth Management increased its position in shares of Fifth Third Bancorp by 4.2% during the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock valued at $9,843,000 after purchasing an additional 9,401 shares during the last quarter. Banco Santander S.A. bought a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $357,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth approximately $9,878,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.