Fifth Third Bancorp (NASDAQ:FITB) Price Target Cut to $50.00 by Analysts at Wells Fargo & Company

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) had its target price reduced by analysts at Wells Fargo & Company from $54.00 to $50.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective points to a potential upside of 27.55% from the stock's previous close.

FITB has been the subject of several other research reports. Barclays increased their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, January 6th. 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. Morgan Stanley reduced their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. DA Davidson upped 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 target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. One investment 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's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $46.64.

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Fifth Third Bancorp Trading Up 2.0 %

NASDAQ FITB traded up $0.76 during trading on Friday, reaching $39.20. 4,494,938 shares of the stock traded hands, compared to its average volume of 4,355,484. The stock's 50-day moving average price is $42.18 and its 200 day moving average price is $43.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market cap of $26.19 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Institutional Trading of Fifth Third Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Kingsview Wealth Management LLC boosted its holdings in shares of Fifth Third Bancorp by 11.5% in the third quarter. Kingsview Wealth Management LLC now owns 11,459 shares of the financial services provider's stock worth $491,000 after acquiring an additional 1,179 shares during the period. D.A. Davidson & CO. grew its holdings in Fifth Third Bancorp by 1.4% during the 3rd quarter. D.A. Davidson & CO. now owns 21,423 shares of the financial services provider's stock valued at $918,000 after buying an additional 289 shares in the last quarter. FMR LLC increased its position in shares of Fifth Third Bancorp by 5.7% during the third quarter. FMR LLC now owns 1,692,599 shares of the financial services provider's stock valued at $72,511,000 after buying an additional 91,574 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Fifth Third Bancorp by 19.4% in the third quarter. BNP Paribas Financial Markets now owns 1,173,273 shares of the financial services provider's stock worth $50,263,000 after buying an additional 190,228 shares in the last quarter. Finally, Townsquare Capital LLC bought a new position in shares of Fifth Third Bancorp in the third quarter valued at approximately $804,000. 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.