DA Davidson Forecasts Strong Price Appreciation for Fifth Third Bancorp (NASDAQ:FITB) Stock

Fifth Third Bancorp (NASDAQ:FITB) had its target price hoisted by equities researchers at DA Davidson from $49.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price suggests a potential upside of 13.17% from the stock’s previous close. DA Davidson also issued estimates for Fifth Third Bancorp’s Q1 2025 earnings at $0.76 EPS.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Citigroup lifted their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial raised their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI upped their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $44.18 on Thursday. The business has a 50-day simple moving average of $44.78 and a 200 day simple moving average of $43.03. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The stock has a market cap of $29.62 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.91 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp in the fourth quarter worth about $25,000. Venturi Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC increased its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp during the third quarter valued at $39,000. Hedge funds and other 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.