Fifth Third Bancorp (NASDAQ:FITB) Given New $43.00 Price Target at Citigroup

Fifth Third Bancorp (NASDAQ:FITB) had its price target dropped by analysts at Citigroup from $52.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective would suggest a potential upside of 7.05% from the stock’s previous close.

A number of other equities analysts also recently commented on FITB. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Truist Financial boosted their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Morgan Stanley dropped their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Piper Sandler reissued an “overweight” rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of 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 equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $46.86.

Fifth Third Bancorp Stock Down 0.2 %

FITB stock opened at $40.17 on Monday. The firm has a fifty day moving average price of $42.44 and a two-hundred day moving average price of $43.56. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. The firm has a market cap of $26.84 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.42 and a beta of 1.21.

Insider Transactions at Fifth Third Bancorp

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

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently bought and sold shares of the business. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $28,000. Quarry LP purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $29,000. BankPlus Trust Department acquired a new position in shares of Fifth Third Bancorp in the fourth quarter worth $29,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the third quarter worth $36,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.