Fifth Third Bancorp (NASDAQ:FITB) PT Raised to $39.00

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) had its target price increased by equities research analysts at Keefe, Bruyette & Woods from $37.00 to $39.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 10.48% from the stock's previous close.

Several other analysts have also recently commented on FITB. Robert W. Baird restated a "neutral" rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. Barclays lifted their price objective on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, January 2nd. Stephens restated an "equal weight" rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Finally, Morgan Stanley lifted their price objective on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $35.44.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB traded up $0.02 during trading hours on Friday, hitting $35.30. 2,888,349 shares of the company were exchanged, compared to its average volume of 5,471,985. The stock has a market capitalization of $24.05 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 1.37 and a beta of 1.27. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. The company's 50 day moving average price is $35.00 and its 200-day moving average price is $31.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.22. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.15 billion. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, research analysts forecast that Fifth Third Bancorp will post 3.17 earnings per share for the current year.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 5,000 shares of the company's stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares of the company's stock, valued at $5,072,172.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jude Schramm sold 5,000 shares of the company's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares of the company's stock, valued at $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James C. Leonard sold 26,500 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company's stock, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Hedge funds have recently modified their holdings of the company. Fairfield Bush & CO. lifted its position in Fifth Third Bancorp by 1.4% in the first quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider's stock valued at $1,570,000 after buying an additional 502 shares during the last quarter. Aviva PLC lifted its position in Fifth Third Bancorp by 22.0% in the first quarter. Aviva PLC now owns 255,764 shares of the financial services provider's stock valued at $11,008,000 after buying an additional 46,064 shares during the last quarter. Prudential PLC acquired a new position in Fifth Third Bancorp in the first quarter valued at about $754,000. Cetera Investment Advisers lifted its position in Fifth Third Bancorp by 13.0% in the first quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider's stock valued at $2,365,000 after buying an additional 6,341 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its position in Fifth Third Bancorp by 60.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider's stock valued at $5,224,000 after buying an additional 45,910 shares during the last quarter. Hedge funds and other 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.