Fifth Third Bancorp (NASDAQ:FITB) Raised to Outperform at Robert W. Baird

Fifth Third Bancorp (NASDAQ:FITB) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has a $47.00 target price on the financial services provider’s stock. Robert W. Baird’s price target points to a potential upside of 39.26% from the company’s previous close.

Several other analysts have also recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Wells Fargo & Company dropped their target price on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday. DA Davidson upped their price objective 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, Barclays increased their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $48.12.

Fifth Third Bancorp Trading Down 4.8 %

Shares of Fifth Third Bancorp stock opened at $33.75 on Monday. Fifth Third Bancorp has a twelve month low of $31.10 and a twelve month high of $49.07. The firm’s 50-day moving average price is $41.50 and its 200 day moving average price is $43.36. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $22.55 billion, a PE ratio of 10.75, a P/E/G ratio of 1.42 and a beta of 0.99.

Insider Activity

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

Institutional Trading of Fifth Third Bancorp

Several hedge funds have recently made changes to their positions in the business. Retirement Wealth Solutions LLC acquired a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $28,000. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $29,000. Quarry LP purchased a new position in Fifth Third Bancorp in the fourth quarter valued at $29,000. Finally, Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth $33,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.