Fifth Third Bancorp (FITB) Receives a Hold from Citigroup

By Carrie Williams

In a report released today, Keith Horowitz from Citigroup maintained a Hold rating on Fifth Third Bancorp (FITBResearch Report), with a price target of $27.00. The company’s shares closed last Monday at $25.65.

According to TipRanks.com, Horowitz is a 4-star analyst with an average return of 5.7% and a 70.0% success rate. Horowitz covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Citizens Financial, and Regions Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fifth Third Bancorp with a $29.40 average price target, implying a 14.2% upside from current levels. In a report issued on October 3, Morgan Stanley also maintained a Hold rating on the stock with a $31.00 price target.

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Based on Fifth Third Bancorp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.13 billion and net profit of $449 million. In comparison, last year the company earned revenue of $1.84 billion and had a net profit of $428 million.

Based on the recent corporate insider activity of 75 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.