Fifth Third Bancorp (NASDAQ:FITB) Price Target Raised to $56.00 at Barclays

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) had its price objective increased by Barclays from $51.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Barclays's price target points to a potential upside of 30.41% from the company's current price.

Several other equities research analysts also recently weighed in on the company. Evercore ISI increased their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an "in-line" rating in a report on Wednesday, October 2nd. StockNews.com downgraded shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, Baird R W lowered Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $45.62.

Fifth Third Bancorp Stock Up 1.3 %

Shares of Fifth Third Bancorp stock traded up $0.55 during trading hours on Monday, hitting $42.94. The company had a trading volume of 5,319,657 shares, compared to its average volume of 4,350,752. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The company's 50-day moving average is $45.31 and its two-hundred day moving average is $42.49. The company has a market cap of $28.79 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.19 and a beta of 1.24. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued 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 return on equity of 14.58% and a net margin of 16.58%. The firm had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the business posted $0.92 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FITB. Venturi Wealth Management LLC increased its holdings in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 316 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at approximately $36,000. Hexagon Capital Partners LLC increased its stake in shares of Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock worth $37,000 after purchasing an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $39,000. Finally, Versant Capital Management Inc lifted its stake in Fifth Third Bancorp by 232.0% in the 4th quarter. Versant Capital Management Inc now owns 1,006 shares of the financial services provider's stock valued at $43,000 after buying an additional 703 shares in the last quarter. Institutional investors and hedge funds 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.