In a report released yesterday, Jason Goldberg from Barclays maintained a Buy rating on Fifth Third Bancorp (FITB), with a price target of $24.00. The company’s shares closed last Wednesday at $16.69.
According to TipRanks.com, Goldberg is a 4-star analyst with an average return of 3.3% and a 56.5% success rate. Goldberg covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Atlantic Union Bankshares, and Capital One Financial.
Currently, the analyst consensus on Fifth Third Bancorp is a Moderate Buy with an average price target of $24.10, implying a 49.1% upside from current levels. In a report issued on April 2, Merrill Lynch also maintained a Buy rating on the stock with a $25.00 price target.
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Fifth Third Bancorp’s market cap is currently $11.87B and has a P/E ratio of 4.70. The company has a Price to Book ratio of 0.81.
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.
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 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.
