Fifth Third Bancorp (NASDAQ:FITB) Price Target Cut to $50.00 by Analysts at Wells Fargo & Company

Fifth Third Bancorp (NASDAQ:FITB) had its price target decreased by Wells Fargo & Company from $54.00 to $50.00 in a report issued on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup decreased 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. Morgan Stanley lowered their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Barclays increased their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Stephens reaffirmed an “equal weight” rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Finally, DA Davidson increased their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.64.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $38.81 on Friday. The company has a market capitalization of $25.93 billion, a price-to-earnings ratio of 12.36, a PEG 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. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07. The company’s 50 day simple moving average is $42.18 and its 200 day simple moving average is $43.53.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.81%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at $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 owned by company insiders.

Institutional Trading of Fifth Third Bancorp

A number of institutional investors have recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth $25,000. Sierra Ocean LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at about $28,000. Quarry LP acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $29,000. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the 3rd quarter valued at about $36,000. Institutional investors and hedge funds 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.