RBC Capital Remains a Buy on Fifth Third Bancorp

By Carrie Williams

In a report released yesterday, Gerard Cassidy from RBC Capital reiterated a Buy rating on Fifth Third Bancorp (NASDAQ: FITB), with a price target of $28. The company’s shares closed yesterday at $23.78.

According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 29.6% and a 83.9% success rate. Cassidy covers the Financial sector, focusing on stocks such as Provident Financial Services, Discover Financial Services, and Huntington Bancshares Inc.

Fifth Third Bancorp has an analyst consensus of Moderate Buy, with a price target consensus of $27.70.

The company has a one year high of $28.97 and a one year low of $16.14. Currently, Fifth Third Bancorp has an average volume of 5.93M.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2013, Daniel Poston, the EVP & CSAO of FITB sold 13,418 shares for a total of $245,684.

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 and financial services, offers retail and 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 Investment Advisors. The Commercial Banking segment offers credit intermediation, cash management, and financial services to large and middle-market businesses. The Branch Banking segment includes deposit, loan, and lease products to individuals and small businesses. The Consumer Lending segment comprises of mortgage, home equity, automobile, and indirect lending activities. The Investment Advisors segment provides investment alternatives for individuals, companies, and not-for-profit organizations. The company was founded on October 7, 1974 and is headquartered in Cincinnati, OH.