Fifth Third Bancorp (NASDAQ:FITB) Rating Reiterated by Morgan Stanley

Fifth Third Bancorp (NASDAQ:FITB)‘s stock had its “equal weight” rating reaffirmed by research analysts at Morgan Stanley in a research report issued on Monday, Benzinga reports. They presently have a $36.00 price target on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential downside of 2.86% from the company’s current price.

Several other equities research analysts have also commented on FITB. Barclays increased their price objective on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. UBS Group reiterated a “neutral” rating and issued a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Stephens reiterated an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. DA Davidson raised their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Monday. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.31.

Fifth Third Bancorp Price Performance

FITB stock opened at $37.06 on Monday. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41. The stock has a market capitalization of $25.25 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average is $35.35 and its 200-day moving average is $32.07.

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

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction dated 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 owns 46,646 shares in the company, valued at $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,357 shares of company stock worth $1,693,888. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. boosted its stake in Fifth Third Bancorp by 3.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 300 shares in the last quarter. Lcnb Corp boosted its stake in Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 319 shares in the last quarter. MCF Advisors LLC boosted its stake in Fifth Third Bancorp by 0.8% during the first quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock worth $1,558,000 after acquiring an additional 328 shares in the last quarter. Independence Bank of Kentucky boosted its stake in Fifth Third Bancorp by 21.1% during the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 355 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Fifth Third Bancorp by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 73,905 shares of the financial services provider’s stock worth $2,750,000 after acquiring an additional 365 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.