Nomura analyst Bill Carcache maintained a Hold rating on Fifth Third Bancorp (FITB) today and set a price target of $15.00. The company’s shares closed last Tuesday at $16.71.
According to TipRanks.com, Carcache is a 5-star analyst with an average return of 11.9% and a 70.1% 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 $24.50 average price target, representing a 47.5% upside. In a report issued on March 30, Citigroup also maintained a Hold rating on the stock with a $20.00 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 $1.86 billion and net profit of $734 million. In comparison, last year the company earned revenue of $1.61 billion and had a net profit of $456 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.
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.
