Fifth Third Bancorp (FITB) Gets a Hold Rating from Morgan Stanley
In a report released today, Ken Zerbe from Morgan Stanley maintained a Hold rating on Fifth Third Bancorp (FITB), with a price target of $27.00. The company’s shares closed last Monday at $13.97, close to its 52-week low of $13.05.
According to TipRanks.com, Zerbe is a 1-star analyst with an average return of -6.4% and a 45.9% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Valley National Bancorp.
Fifth Third Bancorp has an analyst consensus of Moderate Buy, with a price target consensus of $32.20.
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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 $2.57 billion and net profit of $729 million. In comparison, last year the company earned revenue of $1.85 billion and had a net profit of $467 million.
Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FITB in relation to earlier this year.
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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.