Keefe, Bruyette & Woods Reiterates Market Perform Rating for Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “market perform” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a note issued to investors on Monday, Benzinga reports. They currently have a $40.00 price target on the financial services provider’s stock, up from their previous price target of $39.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 7.93% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Evercore ISI boosted their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Robert W. Baird restated a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. Barclays boosted their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company boosted their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, 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 report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and an average price target of $36.31.

Fifth Third Bancorp Stock Up 1.4 %

Shares of NASDAQ FITB opened at $37.06 on Monday. The stock has a market capitalization 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 50-day moving average price of $35.35 and a 200-day moving average price of $32.07. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations 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 company earned $0.78 earnings per share. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders have sold a total of 46,357 shares of company stock valued at $1,693,888 over the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Fifth Third Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wetzel Investment Advisors Inc. increased its holdings in Fifth Third Bancorp by 22.2% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 15,836 shares of the financial services provider’s stock worth $542,000 after acquiring an additional 2,872 shares during the period. Amalgamated Bank increased its holdings in Fifth Third Bancorp by 10.7% during the 1st quarter. Amalgamated Bank now owns 196,223 shares of the financial services provider’s stock worth $7,301,000 after acquiring an additional 19,014 shares during the period. Wesbanco Bank Inc. increased its holdings in Fifth Third Bancorp by 355.1% during the 1st quarter. Wesbanco Bank Inc. now owns 89,225 shares of the financial services provider’s stock worth $3,320,000 after acquiring an additional 69,619 shares during the period. Stablepoint Partners LLC increased its holdings in Fifth Third Bancorp by 6.4% during the 1st quarter. Stablepoint Partners LLC now owns 139,807 shares of the financial services provider’s stock worth $5,202,000 after acquiring an additional 8,378 shares during the period. Finally, Strategic Blueprint LLC increased its holdings in Fifth Third Bancorp by 133.9% during the 1st quarter. Strategic Blueprint LLC now owns 20,723 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 11,863 shares during the period. Institutional investors own 83.79% of the company’s stock.

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.