Fifth Third Bancorp (NASDAQ:FITB) Given New $52.00 Price Target at Citigroup

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) had its price objective increased by equities research analysts at Citigroup from $43.00 to $52.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Citigroup's target price suggests a potential upside of 8.56% from the company's previous close.

Other research analysts also recently issued research reports about the company. Barclays boosted their price target on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. StockNews.com downgraded Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Baird R W downgraded Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Finally, Evercore ISI boosted their target price on 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 analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of "Hold" and an average price target of $43.62.

Fifth Third Bancorp Stock Performance

FITB stock traded up $0.78 during midday trading on Friday, reaching $47.90. 3,790,967 shares of the company were exchanged, compared to its average volume of 4,579,031. Fifth Third Bancorp has a one year low of $26.89 and a one year high of $48.10. 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 firm has a market capitalization of $32.12 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. The business has a 50-day moving average price of $44.05 and a two-hundred day moving average price of $40.63.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $0.92 EPS. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current year.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. This represents a 14.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares of the company's stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Park National Corp OH boosted its stake in Fifth Third Bancorp by 15.0% in the 2nd quarter. Park National Corp OH now owns 41,503 shares of the financial services provider's stock worth $1,514,000 after purchasing an additional 5,411 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Fifth Third Bancorp by 15.1% in the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock valued at $3,078,000 after acquiring an additional 9,444 shares in the last quarter. M&G Plc purchased a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $1,254,000. Plato Investment Management Ltd purchased a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at about $639,000. Finally, BDF Gestion purchased a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $3,837,000. Institutional investors 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.

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