RBC Capital analyst Gerard Cassidy maintained a Buy rating on Fifth Third Bancorp (FITB – Research Report) on March 11 and set a price target of $38.00. The company’s shares closed yesterday at $36.23.
Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Bank of America, and Fifth Third Bancorp. According to TipRanks, Cassidy has an average return of 16.3% and a 63.29% success rate on recommended stocks.
In addition to RBC Capital, Fifth Third Bancorp also received a Buy from Piper Sandler’s Scott Siefers in a report issued on March 8. However, on March 6, KBW maintained a Hold rating on Fifth Third Bancorp (NASDAQ: FITB).
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Based on Fifth Third Bancorp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.16 billion and a net profit of $569 million. In comparison, last year the company earned a revenue of $2.4 billion and had a net profit of $773 million
Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FITB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Fifth Third Bancorp (FITB) Company Description:
Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. The Commercial Banking segment offers credit intermediation, cash management and financial services to large and middle-market businesses. The Branch Banking segment provides deposit, loan and lease products to individuals and small businesses. The Consumer Lending segment includes residential mortgage, home equity, automobile and indirect lending activities. The Wealth & Asset Management segment provides investment alternatives for individuals, companies and not-for-profit organizations. The company was founded in 1975 and is headquartered in Cincinnati, OH.
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