Fifth Third Bancorp (NASDAQ: FITB) Sees Varied Institutional Investor Interest Amid New Price Target

Core Viewpoint - Fifth Third Bancorp (NASDAQ: FITB) is experiencing mixed sentiment among institutional investors, with a new price target set by Truist Financial indicating potential upside, while some investors are reducing their stakes significantly [1][2][5]. Group 1: Company Overview - Fifth Third Bancorp is a financial services company based in Cincinnati, Ohio, offering services such as commercial banking, consumer lending, and wealth management [1]. - The company competes with major banks like U.S. Bancorp and PNC Financial Services [1]. Group 2: Price Target and Stock Performance - Truist Financial has set a price target of $60 for FITB, suggesting a potential increase of 19.45% from its current trading price of $50.23 [1][5]. - FITB's stock is currently trading at $50.16, down 1.14% or $0.58, with a trading range today between $50.11 and $51.10 [4]. Group 3: Institutional Investor Activity - iA Global Asset Management Inc. has reduced its stake in FITB by 93.6%, now holding only 1,982 shares valued at $88,000 after selling 29,217 shares [2]. - Conversely, Evolution Wealth Management Inc. has initiated a new stake in FITB valued at approximately $26,000, while Activest Wealth Management has increased its investment by over 1,000%, now owning 686 shares worth $28,000 [3].