Fifth Third Bancorp (NASDAQ:FITB) Given New $43.00 Price Target at Citigroup

Fifth Third Bancorp (NASDAQ:FITB - Free Report) had its target price decreased by Citigroup from $52.00 to $43.00 in a research note published on Monday morning, MarketBeat.com reports. Citigroup currently has a neutral rating on the financial services provider's stock.

FITB has been the subject of a number of other reports. Barclays lifted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Truist Financial upped their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Fifth Third Bancorp has an average rating of "Hold" and an average price target of $46.64.

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Fifth Third Bancorp Trading Down 2.6 %

FITB stock traded down $1.02 during trading on Monday, hitting $38.75. 719,415 shares of the company traded hands, compared to its average volume of 4,350,432. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50-day moving average of $42.29 and a 200-day moving average of $43.51. The firm has a market capitalization of $25.89 billion, a PE ratio of 12.34, a P/E/G ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.82%. Fifth Third Bancorp's payout ratio is currently 47.13%.

Insider Activity

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

Institutional Investors Weigh In On Fifth Third Bancorp

Large investors have recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $25,000. Sierra Ocean LLC acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $28,000. BankPlus Trust Department purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $29,000. Quarry LP acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $33,000. 83.79% of the stock is owned by institutional investors and hedge funds.

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.