Morgan Stanley Cuts Fifth Third Bancorp (NASDAQ:FITB) Price Target to $52.00

Fifth Third Bancorp (NASDAQ:FITB - Free Report) had its price target cut by Morgan Stanley from $57.00 to $52.00 in a report issued on Thursday,Benzinga reports. They currently have an equal weight rating on the financial services provider's stock.

A number of other analysts have also recently issued reports on FITB. Truist Financial increased their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Stephens reissued an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Citigroup increased their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. DA Davidson upped their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. One investment 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's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $47.36.

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Fifth Third Bancorp Trading Up 1.1 %

FITB stock traded up $0.44 during midday trading on Thursday, hitting $38.99. 5,853,365 shares of the company's stock were exchanged, compared to its average volume of 4,192,268. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. 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 market cap of $26.05 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The stock's fifty day moving average price is $42.76 and its 200-day moving average price is $43.67.

Insider Buying and Selling

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

Hedge Funds Weigh In On Fifth Third Bancorp

A number of large investors have recently made changes to their positions in FITB. Assetmark Inc. increased its position in Fifth Third Bancorp by 12.9% during the 3rd quarter. Assetmark Inc. now owns 4,126 shares of the financial services provider's stock worth $177,000 after buying an additional 471 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Fifth Third Bancorp by 89.5% in the third 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. Apollon Wealth Management LLC increased its position in Fifth Third Bancorp by 13.8% during the third quarter. Apollon Wealth Management LLC now owns 35,052 shares of the financial services provider's stock worth $1,502,000 after acquiring an additional 4,251 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Fifth Third Bancorp by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,731,656 shares of the financial services provider's stock worth $74,184,000 after purchasing an additional 19,572 shares in the last quarter. Finally, Aptus Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the 3rd quarter valued at about $206,000. 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.