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

Fifth Third Bancorp (NASDAQ:FITB) had its target price dropped by investment analysts at Citigroup from $52.00 to $43.00 in a 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 target would indicate a potential upside of 6.84% from the stock’s current price.

FITB has been the subject of a number of other research reports. Truist Financial upped their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Barclays raised their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. 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 stock. According to MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $46.86.

Fifth Third Bancorp Trading Up 1.9 %

Shares of NASDAQ FITB traded up $0.77 during trading hours on Monday, hitting $40.25. The company’s stock had a trading volume of 492,012 shares, compared to its average volume of 4,230,345. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The stock has a market cap of $26.89 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50-day simple moving average of $42.53 and a 200-day simple moving average of $43.58.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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.