Fifth Third Bancorp (NASDAQ:FITB) Rating Reiterated by UBS Group

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “neutral” rating reaffirmed by equities research analysts at UBS Group in a report issued on Thursday, Benzinga reports. They currently have a $39.00 target price on the financial services provider’s stock, down from their previous target price of $42.00. UBS Group’s price target points to a potential upside of 10.48% from the company’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley raised their price target 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. Barclays raised their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada boosted their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Evercore ISI raised their price objective on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company upped their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.44.

Fifth Third Bancorp Stock Up 0.1 %

Shares of NASDAQ:FITB opened at $35.30 on Thursday. The company has a market capitalization of $24.05 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 1.37 and a beta of 1.27. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.41. The business has a 50-day moving average price of $35.00 and a 200 day moving average price of $31.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the business earned $1.04 earnings per share. Sell-side analysts expect that Fifth Third Bancorp will post 3.17 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds have recently made changes to their positions in FITB. Penserra Capital Management LLC boosted its position in Fifth Third Bancorp by 8.7% during the fourth quarter. Penserra Capital Management LLC now owns 3,568 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 285 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Fifth Third Bancorp by 3.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 300 shares during the last quarter. Lcnb Corp increased its position in Fifth Third Bancorp by 1.7% during the 4th quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after purchasing an additional 319 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Fifth Third Bancorp by 1.7% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 18,752 shares of the financial services provider’s stock valued at $599,000 after acquiring an additional 321 shares during the period. Finally, Independence Bank of Kentucky raised its position in Fifth Third Bancorp by 21.1% in the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 355 shares during the period. Institutional investors and hedge funds 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.