Fifth Third Bancorp (FITB) Receives a Hold from Nomura
In a report released today, Bill Carcache from Nomura maintained a Hold rating on Fifth Third Bancorp (FITB), with a price target of $29.00. The company’s shares closed last Monday at $28.84.
According to TipRanks.com, Carcache is a 5-star analyst with an average return of 16.3% and a 79.6% success rate. Carcache covers the Financial sector, focusing on stocks such as Discover Financial Services, Capital One Financial, and Huntington Bancshares.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fifth Third Bancorp with a $33.00 average price target.
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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 $2.59 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 82 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.
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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.