DA Davidson Forecasts Strong Price Appreciation for Fifth Third Bancorp (NASDAQ:FITB) Stock

Fifth Third Bancorp (NASDAQ:FITB) had its price target lifted by investment analysts at DA Davidson from $49.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective indicates a potential upside of 13.83% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Barclays lifted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday. Keefe, Bruyette & Woods increased their target price on 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. Finally, Citigroup boosted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp Trading Down 0.0 %

Shares of FITB traded down $0.01 during trading hours on Thursday, hitting $43.93. 738,977 shares of the stock traded hands, compared to its average volume of 5,282,935. The business has a fifty day moving average of $44.85 and a 200-day moving average of $43.02. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $29.45 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07.

Insiders Place Their Bets

In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of FITB. OneDigital Investment Advisors LLC grew its stake in Fifth Third Bancorp by 1.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after buying an additional 222 shares during the last quarter. Transamerica Financial Advisors Inc. grew its position in shares of Fifth Third Bancorp by 7.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 232 shares during the last quarter. Eads & Heald Wealth Management increased its stake in shares of Fifth Third Bancorp by 3.0% during the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 235 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Fifth Third Bancorp by 4.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 246 shares during the last quarter. Finally, Quent Capital LLC boosted its stake in Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 248 shares during the period. 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.