Fifth Third Bancorp (NASDAQ:FITB) Price Target Increased to $41.00 by Analysts at Wells Fargo & Company

Fifth Third Bancorp (NASDAQ:FITB) had its price target increased by Wells Fargo & Company from $39.00 to $41.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 10.66% from the company’s previous close.

FITB has been the topic of several other research reports. Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Barclays raised their target price on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods cut Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the company from $33.00 to $37.00 in a report on Tuesday, January 9th. Royal Bank of Canada lifted their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Finally, Morgan Stanley raised their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.72.

Fifth Third Bancorp Stock Up 0.8 %

FITB traded up $0.31 during trading on Thursday, reaching $37.05. The stock had a trading volume of 828,685 shares, compared to its average volume of 5,560,597. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.36. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average is $34.69 and its two-hundred day moving average is $30.68. The company has a market capitalization of $25.24 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.38 and a beta of 1.26.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly 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 return on equity of 16.25% and a net margin of 18.58%. During the same quarter in the prior year, the business posted $1.04 EPS. As a group, analysts expect that Fifth Third Bancorp will post 3.17 earnings per share for the current year.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 5,000 shares of the business’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 sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Several hedge funds have recently bought and sold shares of FITB. GoalVest Advisory LLC lifted its holdings in Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares in the last quarter. Denali Advisors LLC bought a new position in Fifth Third Bancorp in the fourth quarter worth approximately $36,000. Clear Street Markets LLC increased its holdings in Fifth Third Bancorp by 93.4% during the 1st quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 647 shares during the period. Financial Management Professionals Inc. increased its position in Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $38,000. 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.