Fifth Third Bancorp (NASDAQ:FITB) PT Raised to $39.00 at DA Davidson

Fifth Third Bancorp (NASDAQ:FITB) had its target price hoisted by stock analysts at DA Davidson from $37.00 to $39.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective would suggest a potential upside of 5.23% from the company’s current price. DA Davidson also issued estimates for Fifth Third Bancorp’s Q2 2024 earnings at $0.82 EPS, FY2024 earnings at $3.30 EPS and FY2025 earnings at $3.60 EPS.

A number of other analysts also recently issued reports on the stock. Stephens reaffirmed an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Barclays raised their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. UBS Group reaffirmed a “neutral” rating and set a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Finally, Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus target price of $36.31.

Fifth Third Bancorp Stock Up 1.4 %

NASDAQ:FITB opened at $37.06 on Monday. The firm has a market cap of $25.25 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.41. The firm has a 50-day simple moving average of $35.35 and a two-hundred day simple moving average of $32.07.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period last year, the business earned $0.78 EPS. Analysts predict that Fifth Third Bancorp will post 3.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Insiders have sold 46,357 shares of company stock valued at $1,693,888 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. raised its stake in Fifth Third Bancorp by 22.2% during the first quarter. Wetzel Investment Advisors Inc. now owns 15,836 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 2,872 shares in the last quarter. Amalgamated Bank raised its stake in Fifth Third Bancorp by 10.7% during the first quarter. Amalgamated Bank now owns 196,223 shares of the financial services provider’s stock valued at $7,301,000 after purchasing an additional 19,014 shares in the last quarter. Wesbanco Bank Inc. raised its stake in Fifth Third Bancorp by 355.1% during the first quarter. Wesbanco Bank Inc. now owns 89,225 shares of the financial services provider’s stock valued at $3,320,000 after purchasing an additional 69,619 shares in the last quarter. Stablepoint Partners LLC raised its stake in Fifth Third Bancorp by 6.4% during the first quarter. Stablepoint Partners LLC now owns 139,807 shares of the financial services provider’s stock valued at $5,202,000 after purchasing an additional 8,378 shares in the last quarter. Finally, Strategic Blueprint LLC raised its stake in Fifth Third Bancorp by 133.9% during the first quarter. Strategic Blueprint LLC now owns 20,723 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 11,863 shares in the last quarter. 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.