Morgan Stanley Cuts Fifth Third Bancorp (NASDAQ:FITB) Price Target to $52.00

Fifth Third Bancorp (NASDAQ:FITB) had its price target decreased by Morgan Stanley from $57.00 to $52.00 in a research report sent to investors on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on FITB. Citigroup raised their target price 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. DA Davidson raised their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Stephens reissued an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $47.36.

Fifth Third Bancorp Trading Up 2.9 %

NASDAQ:FITB opened at $38.55 on Thursday. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The firm has a fifty day simple moving average of $42.84 and a 200-day simple moving average of $43.68. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $25.76 billion, a P/E ratio of 12.28, a PEG ratio of 1.42 and a beta of 1.21.

Insider Activity

In related news, 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 transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the 4th quarter worth $25,000. Venturi Wealth Management LLC grew its position in Fifth Third Bancorp by 89.5% during 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 during the last quarter. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp during the 4th quarter worth $28,000. Quarry LP purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $29,000. Finally, BankPlus Trust Department purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $29,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

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.