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Fifth Third Bancorp (FITB) Receives a Buy from RBC Capital

In a report issued on January 21, Gerard Cassidy from RBC Capital maintained a Buy rating on Fifth Third Bancorp (FITBResearch Report), with a price target of $50.00. The company’s shares closed last Friday at $45.04.

According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 29.9% and a 80.2% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Goldman Sachs Group, and Citizens Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fifth Third Bancorp with a $51.73 average price target, which is an 12.0% upside from current levels. In a report issued on January 10, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $56.00 price target.

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Fifth Third Bancorp’s market cap is currently $30.8B and has a P/E ratio of 12.06.

Based on the recent corporate insider activity of 113 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 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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