Fifth Third Bancorp (NASDAQ:FITB) Upgraded by Robert W. Baird to “Outperform” Rating

Fifth Third Bancorp (NASDAQ:FITB) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm presently has a $47.00 price objective on the financial services provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 39.26% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Barclays boosted their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price target on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Finally, Citigroup lowered their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.12.

Fifth Third Bancorp Stock Down 4.8 %

Shares of NASDAQ FITB opened at $33.75 on Monday. The business has a 50-day moving average of $41.50 and a two-hundred day moving average of $43.36. The company has a market capitalization of $22.55 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 1 year low of $31.10 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Insiders Place Their Bets

In other news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was 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 approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

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

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.