Fifth Third Bancorp (NASDAQ:FITB) Earns Equal Weight Rating from Stephens

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report)'s stock had its "equal weight" rating reissued by stock analysts at Stephens in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $51.00 price objective on the financial services provider's stock. Stephens' price objective would indicate a potential upside of 27.31% from the stock's current price.

A number of other analysts have also weighed in on the company. Truist Financial increased their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Barclays raised their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. DA Davidson raised their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Finally, Citigroup raised their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $47.31.

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Fifth Third Bancorp Price Performance

NASDAQ:FITB traded up $0.20 during mid-day trading on Wednesday, reaching $40.06. The stock had a trading volume of 5,773,180 shares, compared to its average volume of 4,718,686. The firm has a 50 day moving average price of $43.23 and a two-hundred day moving average price of $43.77. The stock has a market capitalization of $26.66 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.42 and a beta of 1.21. 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.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The stock was 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. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp in the fourth quarter worth about $25,000. Venturi Wealth Management LLC lifted its position in shares of 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 buying an additional 316 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $28,000. Quarry LP purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $29,000. Finally, BankPlus Trust Department purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $29,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

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.